HSBC Premier Mortgage

Mortgages

HSBC Premier Mortgage

The Premier Advantage

Our HSBC Premier customers can access our Mortgage solutions in combination with HSBC Premier1, a world-class banking solution that provides you with unlimited day-to-day banking2 and exclusive global benefits.

Premier Account holders enjoy exclusive interest rate discounts on residential mortgages and access to a personal Relationship Manager and a global network of wealth specialists.

 

HSBC Premier eligibility

You can qualify for the Premier mortgage in one of two ways.

  • Fund your account and/or investments with a minimum $100,000 Total Relationship Balance
  • Qualify for HSBC Premier in another country.

Discover all the advantages of HSBC Premier.

At this rate, you’ll be home in no time. See all rates.

What you need to know before applying

  • You are at least the age of majority, 18 or 19 years of age depending on your province of residence
  • You are a Canadian resident
  • You will be asked to provide personal details and gross annual income (pre-tax)
  • You will be asked to consent to us obtaining your credit report
  • If you are applying for a joint loan, the co-applicant must complete the application. If there is more than one co-applicant, please call us to proceed at 1-866-609-4722
  • All mortgages are subject to standard credit approval.

 

Need to talk to us?

Our mortgage specialists are here to help.

Call us:
1-866-609-4722

Lines are open Mon-Fri 6am-6pm PT

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If you would like a face-to-face chat, just pop in to a branch.

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An HSBC mortgage specialist will call you within 1 business day



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1  HSBC Premier eligibility requires you to have an active HSBC Premier chequing account and maintain a $100,000 balance in combined personal deposits and investments with HSBC Bank Canada and its subsidiaries, some exclusions apply. For full details regarding eligibility and any fees which may apply, please refer to the Personal Service Charges/Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca.

2 Unlimited day-to-day banking includes cheques, withdrawals and deposits at HSBC Branches and ATMs in Canada, HSBC telephone and mobile banking (Canada), withdrawals at more than 2,500 ATMs on THE EXCHANGE®2 Network and Interac®3 debit purchases at retailers across Canada.

* The annual percentage rate (APR) is based on a $ 200,000 mortgage for the applicable term assuming a property valuation fee of $250. APR means the cost of borrowing for a loan expressed as an interest rate. It includes all interest and some non-interest charges associated with the mortgage. If there are no non–interest charges, the annual interest rate and APR will be the same. Rates apply to traditional and Equity Power Mortgages. All rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch. Some restrictions apply. Revenue property rates available upon request.

What is a down payment and how much do I need to buy a home?

A mortgage down payment is the amount of money you have saved to purchase your home. You can have as little as 5% of the purchase price amount for a down payment to qualify for a mortgage.

Calculate your mortgage payments

If you are a first-time homebuyer, you may be able to use your RRSP for a down payment.

Learn more

What is amortization and a mortgage term?

Amortization is the estimated number of years it will take to pay off your mortgage. Amortization periods range up to 30 years. The longer your amortization is, the lower your mortgage payments will be, but the higher the total amount of interest you'll pay over the life of the mortgage.

A mortgage term is the length of time you agree to a specific mortgage interest rate and a set payment schedule. A mortgage term can range from as little as 6 months to as long as 10 years. At the end of a term, you can agree to a new interest rate and payment schedule (renew the mortgage), or you can pay off your mortgage in full.

You may have several mortgage terms during the amortization period.

What's the difference between a fixed rate mortgage and a variable rate mortgage?

A fixed rate mortgage allows you to lock in a specific annual interest rate for a certain period of time, known as the term. Terms range from 6 months to 10 years. The interest rate and the payments on the mortgage remain the same for the length of your term. As you make payments and the principal amount is reduced, more of the mortgage payment is applied to the principal and less of the payment is applied to the interest. Because the interest rate does not change throughout the term, you know in advance the amount of interest you will pay and how much principal you will owe at the end of your term.

With a variable rate mortgage, the annual interest rate is based on the Bank's Prime Rate plus or minus a specified percentage. The interest rate changes with the Bank's Prime Rate. Variable mortgage terms range from 3 or 5 years. The regular mortgage payment is a fixed amount. As interest rates fall more of the payment is applied to the principal, and as rates rise, more of the payment is applied to the interest. The regular mortgage payment may be adjusted if the amount of your payment is not enough to cover the interest portion of the payment. Because the interest rate changes, it is not possible to know in advance how much interest you will pay and how much principal you will owe at the end of your term. You can convert a variable rate mortgage into a fixed rate mortgage of the same or longer term at any time during your term without additional cost.

My mortgage is up for renewal, what should I do?

This means that your mortgage term has come to an end and you can renegotiate for a new interest rate, term, and payment schedule. This is also the time to make a larger payment (lump sum payment) without pre-payment penalties on your mortgage to help pay it off sooner.

  • New to HSBC? Call an HSBC mortgage advisor at 1-888-310-4722 or visit your local branch
  • Already an HSBC client? You may be eligible for a preferred rate as an HSBC Premier1 or HSBC Advance2 client.

Learn more about HSBC Premier
Learn more about HSBC Advance

Call 1-888-981-4722

Hours of Operation
Mon-Fri 6am-6pm PST

Call 1-866-609-4722

Hours of Operation
Mon-Fri 6am-6pm PST