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.
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Book an appointment
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