Issued by HSBC Bank Canada for persons in Canada.
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.
** The annual percentage rate (APR) is based on a $200,000 mortgage for the applicable term with the $300 property valuation fee waived. 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 high ratio residential mortgages with default insurance, 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.
*** The variable rate is equal to HSBC Prime Rate -0.91%. 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.
‡ The variable rate is equal to HSBC Prime Rate -0.61%. The rate will change as HSBC's Prime Rate changes. Rates are subject to change without notice. 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.
1 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.
2 When you move a personal mortgage loan to HSBC. Applications are subject to credit approval. HSBC Mortgage Switch Rate Terms and Conditions.
3 When you purchase a property and obtain a personal mortgage loan with HSBC. Applications are subject to credit approval. HSBC Mortgage Purchase Rate Terms and Conditions.
4 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 September 8, 2022, HSBC Prime Rate is 5.45%. 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 28, 2022 to September 30, 2022; subject to credit approval.
5 When you purchase a new property and are taking a new personal mortgage loan or move your existing Mortgage to HSBC with a 5 year fixed or variable closed term and you make mortgage payments from your HSBC chequing or savings account. The mortgage application must be started during the Offer Period and fully funded by HSBC within 120 days of the application start date and no later than Dec 31, 2022. HSBC Mortgage Cash Back Offer Terms and Conditions.
6 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 if 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 principle 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.
