Buying Property in Canada

Buying a home is probably one of the biggest financial decisions you can make. An HSBC Premier Relationship Manager can offer personalized service combined with expert advice to help you choose the right mortgage for you, your family and your future. 

Deciding what you want

Your first step is to narrow the list of possibilities for your new home, by discovering what it is you want most in your home and neighbourhood. Some features include space requirements, neighbourhood features, proximity to daily activities, family needs and financial consideration.

Try our online mortgage calculators to find out how much you could borrow and what your mortgage payments would be.

Assessing your down payment

How large a down payment you put toward your new home is one of the most important decisions to make in the homebuying process. Putting down a sizable down payment is a cost-saving measure. The greater the down payment, the more you will save in interest and insurance fees. 

Getting Pre-Approval for Your Mortgage

Before you start house hunting, consider applying for a pre-approved mortgage. With a pre-approved mortgage, you have some advantages:

• You know your price range, so you can narrow your search. 
• The seller will find your offer more attractive when they know that you already have financing. 
• Your mortgage rate is guaranteed for 60 days. Applying is free, and you are under no obligation to accept our offer.

Apply Today!

• Get started online
• Call us at 1-888-280-4722 (HSBC)
• Or visit a branch near you

With a pre-approved mortgage, you can begin looking at potential homes with confidence.

To get a mortgage in Canada, you will typically need the following documents:

• Proof of income such as a T-4 slip or letter from your employer.
• Current bank and financial information including your total financial assets.
• The amount of down payment (deposit) that you have available. Typically this should be 20% of the purchase price.
• Your credit card balances and other liabilities (money you owe).

Choose the right mortgage

HSBC offers many types of mortgages, and within each mortgage option are features that can be tailored to fit your needs and your financial situation. 

• HSBC Smart Savers Mortgage ^TM - Link your savings and chequing accounts to your mortgage to lower the actual mortgage interest rate paid. You pay down your mortgage faster and still have instant access to your money whenever you need it.
• Traditional Mortgage – Become a homeowner sooner than you think with as little as 5% downpayment. This is the best mortgage if you are a first-time buyer or have limited down payment options.
• Equity Power Mortgage - Make the equity in your home work for you with an Equity Power Mortgage. You can access up to 80% of the value of your home through a range of credit options, including Traditional Mortgage and Secured Personal Line of Credit.

Compare mortgages to find the one that’s right for you.

Save Money on Your Mortgage

HSBC offers a variety of ways for you to save money on your mortgage and be mortgage-free faster. Choose the options that best suit your lifestyle, budget, and long-term financial needs.

• Link your savings to your mortgage - With HSBC Canada’s innovative Smart Savers Mortgage ^TM, you can use your savings to reduce the amount of interest you pay and pay off your mortgage faster. 
• Use your HSBC Premier MasterCard® Rewards Points - 'Master Your Mortgage' by using your HSBC Premier MasterCard^® Rewards Points to pay down your mortgage faster.
• Increase the amount of your payments - By increasing your mortgage payments by 20% or by paying up to 20% of the original balance each year, you can significantly reduce your outstanding mortgage principal, reduce the total amount of mortgage interest you pay, and own your home faster.
• Increase the frequency of your payments - Increasing the frequency of your payments can greatly reduce the amount of interest you pay and, therefore, reduce the number of years it takes to pay off your mortgage.

Apply Today!

• Get started online
• Call us at 1-888-280-4722 (HSBC)
• Or visit a branch near you