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Affordable mortgages

Low down-payment mortgage programs and initiatives, designed to make the dream of home ownership more affordable.

Affordable mortgages with low down-payments

We’re making the dream of home ownership come true with a variety of affordable mortgage programs for – but not limited to – first time homebuyers[@ftb-defined-under-hud].

Explore our mortgage programs, then get started with a rate quote, request financing or speak with one of our Mortgage Consultants who can help you find a mortgage that fits your needs.

Our affordable and regional mortgage products

HSBC CommunityWorks

HSBC’s CommunityWorks[@communityworks] offers an affordable, low down-payment mortgage option designed for, but not limited to, first-time homebuyers. This program may be combined with eligible grants to help pay for costs associated with obtaining a mortgage.

  • Up to $5,000 in closing cost assistance
  • Private Mortgage Insurance (PMI) is not required
  • Financing for a purchase of an owner-occupied property may be eligible for an HSBC CommunityWorks Opening Doors[@opening-doors] home loan grant
  • Must have at least a 620 credit score[@minimum-credit-scores]

The HSBC CommunityWorks program may require completing a course through an eligible home buyer counseling organization by at least one borrower. Home buyer education courses are available in person and online, covering the home buying process and the responsibilities of owning a home.

HomeReady®

A HomeReady®[@homereadyhomepossible] mortgage offers an affordable low down-payment option. HomeReady® requires minimal out of pocket funds, and considers income from a non-occupant co-borrower or a renter for qualification.

  • As low as 3% down payment requirement[@3percentdownpayment]
  • Flexibility for non-occupant co-borrowers
  • Loans for 1-4 unit family dwellings, condominiums, planned unit developments (PUDs) and cooperatives[@condos-puds-coops]
  • Limited cash-out refinancing[@refinancingcashout]

HomeReady® requires completion of home buyer education course by at least one borrower.

HSBC Down Payment Assistance Program

Introducing, the HSBC CommunityWorks Opening Doors home loan grant for additional down payment assistance - designed to be used with our HSBC CommunityWorks mortgage.

HSBC CommunityWorks Opening Doors home loan grant

Designed to be used with our HSBC CommunityWorks mortgage, an HSBC CommunityWorks Opening Doors home loan grant could give you $25,000 in down payment assistance.

  • No need to pay back grant funds
  • There will not be a lien for the grant recorded at closing
  • May be able to be combined with other down payment assistance programs or grants
  • Full grant must be used for down payment, and cash back at closing is not permitted

Homebuyer Dream Programs® [@homebuyerdream]

HSBC is partnering with the Federal Home Loan Bank of New York to offer down payment and closing cost assistance. Contact a mortgage consultant to learn more.

Get started

Book an appointment

Book a time with a mortgage consultant to discuss your mortgage options.

Mortgage financing request

Take the first step to get prequalified to buy or refinance your home.

You might be interested in

Find out how to manage your mortgage online, access your home's equity, and much more.
Explore the different types of mortgages available and find the right one for your needs.
Here’s a step-by-step guide outlining the journey to home ownership and the estimated timeframes involved.

Additional information

    Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.

    HSBC mortgages are not available in West Virginia or Alaska.

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