HSBC Mortgage Calculator
How to Estimate Payments
HSBC mortgage payments are estimated using the following information:
- The purchase price of your property or the renewal amount of your mortgage
- The amount of your down payment (applicable if buying a new home)
- The amortization period
- The mortgage rate
Enter the amounts into the mortgage calculator to estimate your mortgage payments.
About HSBC’s Mortgage Rates
HSBC has two main mortgage products: The HSBC Advance Mortgage and the HSBC Premier Mortgage. In order to get either of these mortgages, you must already be a HSBC customer. To qualify for an HSBC Advance Mortgage, you must have an HSBC Advance chequing account, a minimum of $25,000 in personal deposits and investments with HSBC, and a residential mortgage greater than or equal to $150,000.
To qualify for the HSBC Premier Mortgage, you must be a premier account holder and have funds in your investment and or personal account in excess of $100,000. Additionally, both the HSBC Advance and Premier chequing accounts have monthly fees if you don’t meet the minimum qualifying balances. This is an additional expense and most other mortgage providers allow you to take out a mortgage without being a banking customer.
How to get reduce your HSBC mortgage payments
If you’re interested in lowering your mortgage payment, talk to a mortgage broker. A mortgage broker will help you find the best mortgage rate by comparing the provided rates from multiple institutions. You can also lower your mortgage payments by increasing the amortization period of your mortgage or by increasing your down payment.