The world's local bank
HSBC offers for residents who are new to Canada
HSBC offers mortgage options to qualified applicants who are new to Canada and are interested in purchasing a new home.
Our products help qualifying new or temporary residents of Canada purchase a home without established Canadian credit histories. The property you want to purchase
must have a
- Loan-to-Value Ratio* of up to 95% of purchase price, or appraised value, whichever is lower (excluding tax).
If the down payment is less than 20% of the value of the home, the mortgage is subject to Canadian Mortgage and Housing Corporation (CMHC) Mortgage Insurance.
Get started in a new country and receive other exciting benefits through HSBC Passport or HSBC Premier
HSBC Mortgage terms and options
| Term | Open |
6 months, or 1 year |
|---|---|---|
Closed |
6 months, or 1 year |
|
| Interest Rate | Fixed rate |
|
Variable rate |
|
|
| Payment Frequency | Choose what works best for you |
|
| Prepayment | Pay off your mortgage faster |
Increase your payments by up to 20%. ----- or ----- Pay up to 20% of the original balance each year. |
| Overpayment | Skip a payment |
Double one mortgage payment, skip another. |
We're here to help
If you need help choosing, assessing or applying for an HSBC mortgage you can call us at 1 888 310 HSBC (4722). Alternatively, read our Mortgage FAQs or visit our Mortgages Resources for more information.
