MORTGAGE FINANCING

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FINANCING IS READILY AVAILABLE
FOR FOREIGN & DOMESTIC BUYERS



Interest rates are at record lows, so whether you are a foreign buyer or US resident, it is a great time to finance a real estate purchase in Manhattan or Miami.

DOWN PAYMENT - 30% FOREIGN BUYERS & 20% DOMESTIC BUYERS

30% Down Payment for HSBC Foreign National Mortgage (Foreign Buyer Program)

Under the 30% down payment program (70% Loan-to-Value), there are specific criteria that the building must meet: over 90% of the units must be sold; no more than 10% of the units can be owned by one individual/entity; no more than 20% of the building can be commercial; final certificates of occupancy must have been issued for all apartments; and the homeowners’ association must have control of the building. This program requires 12 months of reserves and the maximum loan amount is $3,000,000.

 

50% Down Payment Program

If the building doesn’t meet the specific criteria above, for example, if the building is only 60% sold, the bank still may grant a mortgage; however, HSBC would require a higher down payment (or 50% Loan-to-Value). This program requires 36 months of reserves and the maximum loan amount is $3,000,000.

 

Other requirements of both programs:

  • Must be an HSBC Premier client ($100,000 on deposit – this could be in the form of cash or investments)

  • Interest rates are the same for each of these programs.

  • Borrowers must meet program qualifications.

 

US Residents

For United States citizens living and working in the US for the last two years who have an established 720+ credit history, down payment amounts vary depending upon the loan amount.

  • 20% down payment (80% Loan-to-Value) up to $2,000,000 maximum loan amount

  • 25% down payment (75% Loan-to-Value) up to $3,000,000 maximum loan amount

  • 35% down payment (65% Loan-to-Value) up to $4,000,000 maximum loan amount

  • 40% down payment (60% Loan-to-Value) up to $5,000,000 maximum loan amount

In addition, for a US citizen buying a second home, subject to credit approval, a 25% down payment (75% Loan-to-Value) is required. Interest rates for US citizens are .25% less than the rates shown above for foreign buyers.

Other types of mortgage financing:

  • Home Equity Products

  • FHA Loans


Please contact our partner at HSBC, Senior Mortgage Lending Officer Michael Rochette, to inquire about current mortgage rates more info regarding the different types of mortgages. These mortgage programs are subject to credit approval and also geographic and other restrictions.

You can also use the link below to apply for a mortgage and Michael will be in contact with you directly.

Phone.     646-549-6524

Fax.         347-321-4136

Mobile.     646-261-6635

Email.       michael.rochette@us.hsbc.com

APPLY FOR HSBC PREMIER MORTGAGES FOR FOREIGN BUYERS.


Related Resources:

"Home Buying Process"

"Property Management for Investors"

"How to Sell Your NYC Condo Apartment"

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