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 downpayment and closing costs.

Need more information?

Call +1 441 299 5959 to arrange an appointment
Try our online Mortgage calculator and better understand your mortgage payments

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 to 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 Senior Banking Specialist and provide the details.
Provide the Senior Banking Specialist with a copy of the “Sales and Purchase Agreement”.
Secure the purchase with the required deposit.
Proceed with the sufficient downpayment and closing costs (Legal Fees, Stamp Duty).

Get Final Approval

Your Senior Banking Specialist will arrange to have the property professionally appraised to confirm its value.
Your Senior Banking Specialist will help you to arrange home buildings, home contents or mortgage protection insurance to protect your investment.
Your Senior Banking Specialist will notify you of your final approval.

Pre-Closing

Meet with your lawyer for pre-closing.
Your Senior Banking Specialist will send instructions to your lawyer who will then complete the closing documents which you will be asked to review and sign.
Your Senior Banking Specialist will provide you with a letter confirming all the details of your mortgage.

Closing

Your lawyer will send the closing documents to your Senior Banking Specialist.
Your Senior Banking Specialist 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.

This product and service is offered only in the jurisdiction of Bermuda by HSBC Bank Bermuda Limited and the material presented is not intended for use by persons located in or resident in other jurisdictions