![]() If you terminate your account within the first three years, you will have to pay an early termination fee of $500 (or $750 for properties located in California and Virginia), plus any mortgage tax-like fees paid by HSBC at the time your account was established. Generally, closing costs are estimated to range from $270 to $19,900, but may be higher depending on the location of your home and the amount of your line of credit. Additional conditions apply.ħ For line amounts of 500,000 or less, HSBC will pay all closing costs. Up to three balances can be fixed at one time. For a complete list of HSBC Premier Relationship eligibility requirements, please visit or speak with your Relationship Manager.Ħ The fixed rate loan option provides the ability to fix the interest rate on all or a portion of the outstanding balance during the draw period. Initial Draw discount and HSBC relationship auto-pay discount applies to the interest rate after the introductory period ends.ģ Speak with your financial advisor or a counseling agency about debt consolidation.Ĥ Consult your tax advisor for details on tax deductibility of interest paid on loans secured by your home.ĥ To be eligible for an HSBC Home Equity Line of Choice you must have a U.S. For home equity, the Premier APR includes a relationship auto-pay discount of 0.25% and initial draw discount of 0.25% for making a $25,000 minimum initial draw at closing. No discounts apply to the Introductory APR.Ģ Rates, discounts and loan amounts depend on specific program and may require certain personal deposit and investment ‡ balances, reserves, equity and automatic payment from an HSBC U.S. Prime Rate published in the Money Rates table of The Wall Street Journal. This APR may also vary monthly based on the U.S. After the 12 month introductory rate period the APR for any existing balance or future advances will convert to the applicable variable rate APR according to the terms of your Agreement. If Prime increases or decreases during the Introductory Period, the variable Introductory APR and minimum required payment will correspondingly change. Prime may change at any time and is subject to change without notice. Rates shown are for new Home Equity Line of Choice accounts only and may change daily without notice.ġ The Introductory APR applies only during the first 12 months and is based on the U.S. Discounts can be cancelled or are subject to change at any time. This APR also includes the initial draw discount 2. HSBC checking account which must be opened and fully funded prior to closing. *To qualify for discounted rates on a Home Equity Line of Choice, payment must be made via automatic payment from a U.S. Property insurance is required and flood insurance may be required.ĪPR – The APR is the annual cost of the loan and includes fees (such as mortgage insurance, most closing costs, discount points and loan origination fees) indicating the total cost of the loan. All persons on the deed must sign the mortgage. Your Home Equity account will be secured by a mortgage on your home. Please contact us for current rates on lines with different terms. Higher rates may apply for different TLTV's, property and product types. Rates apply to lines secured by your primary residence (excluding condos, co-ops, 3-4 family property) with a total loan-to-value (“TLTV”) ratio of 60% or less, line size $100,000 to $500,000. The APR will not increase or decrease by more than 4% in each year. ![]() The maximum APR is the greater of 15.9% or 5% above the initial APR. The index as of the last change date of is 8.25%. ![]() Prime Rate for a day, the Index will be the average of those rates. If The Wall Street Journal publishes more than one U.S. Prime Rate published each day in The Wall Street Journal (but not the Weekend Edition of The Wall Street Journal) (the "Index") plus a margin. The Annual Percentage Rate (APR) for a Home Equity Line of Choice is variable and is based on the U.S.
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