Ready to Get Started? 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.
- To qualify for the HSBC World Elite Mastercard, you must have an annual individual income of $80,000 or $150,000 household income, or minimum of $400,000 in assets under management (based on liquid, investable assets with a financial institution in Canada). Rates and fees.
Rates are subject to change without notice and are applicable to First Mortgages only.
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+ The annual percentage rate (APR) is based on a $200,000 mortgage for the applicable term assuming a property valuation of $300. APR 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. Rate is only available for residential mortgages, a higher interest rate may apply for non-owner-occupied properties, amortizations greater than 25 years, and exceptions to HSBC's standard lending guidelines. Applications are subject to credit approval.
1 To receive the points, you must have an open, active HSBC World Elite Mastercard, HSBC Premier World Elite Mastercard or Metal World Elite Mastercard by the mortgage funding date. If you don’t have an existing account and choose not to open an HSBC World Elite Mastercard account, you will not be able to participate in the points offer and may be eligible for other current applicable offers.
2 The value was calculated using current credit card redemption values posted on rewards.hsbc.ca for credit card travel rewards credit. Your card has a minimum redemption amount of 25,000 points with increments of 10,000 thereafter. Your HSBC Credit Card account must be open and in good standing at the time of redemption and when we credit your credit card. All rewards offered are subject to the current Terms and Conditions of the HSBC Rewards Program.
3 A High Ratio Mortgage is a personal mortgage with a down payment of less than 20% of the purchase price. Applications are subject to credit approval. HSBC High Ratio Mortgage Rate Terms and Conditions.
4 The variable rate is equal to HSBC Prime Rate minus 0.90%. The rate will change as HSBC's Prime Rate changes. For information and to confirm most recent rates, please contact any HSBC branch. Mortgage Rates above are applicable to First Mortgages only. Some restrictions apply.
5 The interest rate on the HSBC Home Equity Line of Credit (the HSBC HELOC) will change with HSBC Prime. Rates are subject to change without notice. As of January 26, 2023, HSBC Prime Rate is 6.70%. The HSBC HELOC is accessed through a HSBC Chequing account. HSBC Chequing account service charges may apply. Applicable service charges can be found in the Personal Service Charges/Statement of Disclosure. The HSBC HELOC is secured with a registered collateral mortgage against your principal residence. The available limit will depend on the value of your property and any prior charges or liens. An appraisal fee of $300 per valuation may apply. Offer is available to all new HSBC HELOC applications that start between February 27, 2023 to September 3, 2023; subject to credit approval.
6 All rewards offered are subject to the current Terms and Conditions of the HSBC World Elite Rewards Program. There are a minimum number of points required for redemption, which vary by reward. Some restrictions apply. For information on redeeming points, visit rewards.hsbc.ca. Redemption offers may change from time to time.
7 How much you can prepay depends upon the type of mortgage you have. If you hold an open mortgage and your installment payments are up to date, you can pay some, or all of your mortgage loan at any time without penalty. If you hold a Variable Closed mortgage, during the first three years and your installment payments are up to date OR if you hold a Fixed Closed mortgage and your installment payments are up to date, you may make three types of extra payments without penalty: 1) On any anniversary date of the mortgage loan, you may make a lump sum payment up to 20% of the original principal amount; 2) Along with any installment payment, you may make an extra payment in the same amount as your installment payment; 3) Once a year, you may increase your installment payment up to 20% for 12 months. The total extra and increased payments in a year cannot be more than 20% of the original principal amount. If you hold a Variable Closed mortgage after the first three years, your mortgage becomes an open term where you may pay some, or all of your mortgage loan without penalty.
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