Mortgage FAQs

Answers to frequently asked questions

Find out important details about the home buying process, mortgage basics, and ways to make home ownership easier.

Mortgage basics
Tips on preparing for home ownership, and mortgage features to consider
Home buying process
Why you should get preapproved, and the benefits of mortgage insurance
Mortgages at HSBC
Options that suit your needs: choose your term, get a preferred rate, use your home equity, and purchase guidance
Ways to save
How different payment frequencies, down payment size, and HSBC Rewards can help you save money on your mortgage

Mortgage basics

HSBC Mortgages

Save money on your mortgage

Home buying process

HSBC Smart Savers Mortgage® is a registered trademark of HSBC Holdings plc, used under license by HSBC Bank Canada.

1 HSBC Premier eligibility requires you to have an active Premier chequing account and maintain a $100,000 balance in combined personal deposits and investments with HSBC Bank Canada and its subsidiaries. Monthly banking package fees may apply.

2 HSBC Advance is comprised of four products – HSBC Advance Chequing account, High Rate Savings Account (CAD), HSBC Advance MasterCard® and a personal line of credit. The HSBC Advance Chequing, MasterCard and personal line of credit are subject to credit adjudication and approval. You are eligible for HSBC Advance if you have a Total Relationship Balance (TRB) of $25,000 or more and/or a Total Mortgage Balance (TMB) of $150,000 or more. For more information about the eligibility criteria, the monthly fee and other fees, please refer to our Personal Service Charges Statement of Disclosure. HSBC Advance customers must also have a HSBC Advance Chequing Account (CAD). The monthly fee will be charged to your HSBC Advance Chequing Account (CAD) if you do not meet the eligibility criteria or fall within the following grace periods. A new HSBC Advance customer has 3 months from the date they open an account to meet the eligibility criteria. HSBC Advance customers under the Advance Newcomer program (for landed immigrants, foreign workers or new residents of Canada within the past three years) have 6 months from the date they open an account to meet the eligibility criteria. Transaction fees apply to HSBC Advance MasterCard (visit www.hsbc.ca for full MasterCard rates and fees). Transaction and other fees apply to the High Rate Savings Account and other banking services not included in HSBC Advance (refer to the Personal Service Charges Statement of Disclosure at www.hsbc.ca/servicecharge).

® MasterCard is a registered trademark of MasterCard International Incorporated. Used pursuant to license.

3 When you select an accelerated weekly or bi-weekly payment frequency, you are making the equivalent of one additional monthly payment each year which will help pay off your mortgage faster.

*Annual Percentage Rate (APR) calculation assumes no fees will be charged. Rates are subject to approval and can change without notice.

**Assume same interest rate for the entire amortization period.