How Much Can You Afford?

Well, that depends. The amount you can borrow depends on your income and financial obligations. Your HSBC Loan Officer can help you determine how much house you may be able to afford and which mortgage option is best for you.

How much money will you need?

To complete the mortgage transaction, you'll need money for your down payment, closing costs and escrow reserves deposited with HSBC. These costs vary, so we'll give you an estimate when we help you determine how much house you can afford.

Which is the right mortgage?

Every situation is unique and there is usually no single "right" mortgage. What's best for you depends on your financial situation and your answers to these questions:

How long do you plan to stay in your home?
How much of a down payment can you afford?
How long will it take you to pay back the loan?
What is the best combination of interest rates, points, fees and closing costs for you?
Do you need a loan to help with closing costs?
How quickly do you need the loan?
How easy is it to apply? What kind of documentation do you need?

Answering these questions will help our loan officers determine which mortgage fits your financial picture the best.

What closing costs will I have to pay?

A free copy of "A Home Buyer's Guide to Settlement Costs" is waiting for you. It explains the various charges for establishing and transferring ownership, amounts paid to state and local governments and other mortgage-related costs. Simply email us and we'll be happy to send you one.

How can buying a home be made easier?

Get a commitment up front. HSBC's Pre-Approved Mortgage Program offers a 90-day written commitment that gives you the extra leverage when negotiating with sellers. Unlike some lenders' pre-approvals, our pre-approval includes all the necessary credit and information checks, so it's a REAL approval.