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Homebuyer's guide

First things first

  • Make sure your finances are in order by ensuring that you are repaying your loans and credit card bills on time.
  • Make sure that you have enough money available for the initial down payment and closing costs.
 

Need more information?

Get Pre -Approved

  • Apply for a pre-approval for your mortgage. Once pre-approved HSBC will send you a pre-approval letter valid for 90 days setting out how much you can borrow so you know what you can afford. This will help you find the best options for you and to focus your home search.
  • If you haven't already done so, fulfill all conditions set out in your pre-approval letter so that you can get final approval.

Secure Your Purchase

  • When you've found a property and made an offer subject to financing, contact your HSBC Personal Banker or Premier Relationship Manager and provide the details.
  • Provide the HSBC Personal Banker or Premier Relationship Manager with a copy of the “Sales and Purchase Agreement”.
  • Secure the purchase with the required deposit.
  • Proceed with the sufficient down payment and closing costs (Legal Fees, Stamp Duty).

Get Final Approval

  • Your HSBC Personal Banker or Premier Relationship Manager will arrange to have the property professionally appraised to confirm its value.
  • Your HSBC Personal Banker or Premier Relationship Manager will help you to arrange home buildings, home contents or mortgage protection insurance to protect your investment.
  • Your HSBC Personal Banker or Premier Relationship Manager will notify you of your final approval.

Pre-Closing

  • Meet with your lawyer for pre-closing.
  • Your HSBC Personal Banker or Premier Relationship Manager will send instructions to your lawyer who will then complete the closing documents which you will be asked to review and sign.
  • Your HSBC Personal Banker or Premier Relationship Manager will provide you with a letter confirming all the details of your mortgage.

Closing

  • Your lawyer will send the closing documents to your HSBC Personal Banker or Premier Relationship Manager.
  • Your HSBC Personal Banker or Premier Relationship Manager will arrange to have the funds sent to your lawyer who will complete the purchase.
  • Start enjoying your new home!

* These steps are for informational purposes only and may vary for each customer based on individual financial circumstances.
A mortgage is subject to formal credit approval with HSBC.

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