HSBC Bank Mortgage Review 2025

HSBC Bank overview

Pros and cons of HSBC Bank

How Bankrate scored HSBC Bank

Affordability: 5/5

Because the lender has rates below the national average, low-down-payment mortgage options and credits on some jumbo loans, the bank scored a perfect 5 out of 5 stars for affordability.

• Interest rates: HSBC Bank’s mortgage rates are below Bankrate’s averages at the time of this review. The bank displays rates on its website, but the figures shown are only for borrowers with excellent credit and based in certain counties in New York. For rates in any other location, you’ll need to contact the bank. You can also request a custom rate quote through the bank’s site.
• Down payment: Down payment requirements differ by loan type, but HSBC offers some loans that allow down payments as low as 3 percent of the purchase price.
• Fees and closing costs: The bank isn’t as forthcoming about fees and closing costs. However, it does advertise credits on some jumbo loan products, which can save you anywhere from $250 to $1,500 in closing costs.

Availability: 4.8/5

Because HSBC Bank originates loans throughout the U.S. and beyond and offers multiple ways to apply for a loan, it scored 4.8 out of 5 stars for availability. It didn't score a perfect 5 stars because it does not offer USDA or VA loans. 

• Home loans offered: HSBC Bank offers a range of mortgage options, including conventional and jumbo products, FHA loans and some low-down payment programs. The lender appears to focus much of its business on real estate investors, offering many jumbo loans for primary or investment properties.
• Footprint: HSBC Bank is available to borrowers in the U.S. and other countries.
• Where to find: You can apply to get prequalified with HSBC on their website or reach out to a mortgage consultant over the phone. You can also visit a branch in some states for in-person help.

Borrower experience: 4/5

HSBC Bank offers several ways to get in touch with customer service, but mortgage rates aren’t listed on its website for all loan types, so it scored 4 out of 5 stars for borrower experience. 

• Application and preapproval process: If you’d like to get a mortgage with HSBC, you can start by getting prequalified online. (For the bank, “prequalification” and “preapproval” appear to refer to the same thing: a letter that indicates you’re likely to be approved for financing.) If you’re a homebuyer outside the U.S., you’ll need to provide additional documentation.
• Transparency: You can start the lending process easily through HSBC’s website, but you’ll need to consult with a loan officer for details regarding your specific mortgage, including current mortgage rates.
• Customer service: HSBC Bank offers many ways to get in touch with a loan officer or customer service representative. For example, you can call, use mobile or online chat, or find a local Wealth Center to meet with someone in person.

HSBC Bank reputation

HSBC Bank is a global organization with millions of customers. For its U.S. operations, the Better Business Bureau gives it an A rating, but it does not hold accreditation by the organization at the time of this review. In the past, the bank has weathered controversy for a lack of anti-money laundering protections.

HSBC Bank special mortgage offerings

HSBC CommunityWorks

Qualifying borrowers can use the lender’s CommunityWorks loan program. This affordable loan program provides up to $5,000 in closing cost assistance. You don't need to be a first-time homebuyer to qualify, however, the program was designed for them. You might need to complete a homebuyer education course to qualify. 

HSBC Homebuyer Dream Programs

HSBC offers a Homebuyer Dream Program and a Homebuyer Dream Program Plus for first-time homebuyers who qualify. These programs offer affordable mortgages, and grants for closing costs and down payment costs. Some homebuyers can receive a grant for up to $19,500. The Dream Program is not available for buyers in Alaska or West Virginia, and the Dream Plus Program is only for New York and New Jersey residents.

Refinancing with HSBC Bank

HSBC Bank offers both rate-and-term and cash-out refinancing options, including those that let you roll closing costs into the overall loan amount to reduce upfront expenses. You can find some current refinance rates on the bank’s website, but you’ll need to contact a loan officer for specifics.

How to apply for a mortgage with HSBC Bank

You can apply for a mortgage with HSBC Bank in person at a branch location, online or by phone at 844-472-2684 (844-HSBC-MTG). Its loan officers are available for in-person consultations in California, Florida, New Jersey, New York, Virginia and Washington. Here are some tips to prepare for the process:

1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.

2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.

3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.) 

• Methodology

  To determine a mortgage lender’s Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender’s products and services. To assign our ratings, we assessed each mortgage lender across three core areas:

  • Affordability: Annual percentage rate (APR) - 80%; assistance for first-time homebuyers - 10%; down payment - 10%

  • Availability: Loan products - 50%; licensing - 40%; credit score - 10%

  • Borrower experience: Rate transparency - 35%; customer service - 35%; convenience - 20%; rate locks - 10%; reputation (if applicable)

  Learn more about our methodology.