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Mortgage Refinancing

Turning equity into opportunity

Refinancing your home may make sense when your home equity and your financial circumstances will qualify you for additional credit. Refinancing can provide you with the necessary funding to:

  • Lower your borrowing costs when interest rates have dropped
  • Renovate to increase the value of your home
  • Consolidate debt
  • Purchase vacation or investment property
  • Purchase foreign property
  • Pay for tuition
  • Finance retraining or career development

Is refinancing the right way to go?

Now that you’ve established yourself and built up your home equity, you have options. An HSBC Mortgage Specialist can help you determine if refinancing is the best solution for you.

Some options to consider:

Interest cost savings – If interest rates have dropped and you are close to the end of your mortgage term, it may be advantageous to pay off your outstanding balance and open a new mortgage. You can estimate the cost of breaking your current mortgage using our mortgage prepayment calculator.

Debt consolidation – Combining all of your higher-interest rate household debt into one convenient payment may free up cash flow to help you tackle some of your other long-term financial goals.

Create a new mortgage term – When your financial situation or your tolerance for interest rate fluctuation changes, you may want to extend your current mortgage term. Refinancing gives you power to lock in for a new term with a new interest rate, based on today’s best HSBC rates.

Creditor Insurance – HSBC Mortgage Creditor Insurance helps protect your family from the unexpected.

Find out more


Depending on the amount of money you wish to borrow, there may be more effective alternatives to refinancing. For example, if you have just begun a new mortgage term with an interest rate below the current posted rates, you may be better served with a home equity line of credit.

Refinance your home with us today

Five year variable** rate closed term mortgage

1.39%  (1.42% APR)*


Five year fixed rate closed term mortgage

2.19%  (2.22% APR)*

How to apply

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Rates are subject to change without notice and are applicable to First Mortgages only.

* The annual percentage rate (APR) is based on a $200,000 mortgage for the applicable term assuming an appraisal fee 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. This rate is only available for personal 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 variable rate is equal to HSBC Prime Rate -1.06%. 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.

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