Home Purchase Loans

We want you home!

With an HSBC Credit Center Home Purchase Loan, you can buy a home with confidence. We are here to help and support you with your home purchase by offering you... Contact us now!

• Fixed Rate, Adjustable Rate and Combo Loans
• Loan amounts up to $750,000
• The ability to Borrow up to 100% of your home's value

Plus, 3 year Foreclosure, 2 year Bankruptcy still may qualify. We have 40 year amortization loan and interest may be tax-deductible. Consult your advisor.

Fixed rate loans

With a fixed rate loan, your rate and monthly payments remain fixed throughout the life of the loan. A fixed rate loan is often used when someone is planning to own a home for a long period of time.

Advantages:

• Makes monthly budgeting easier
• There's no risk if mortgage rates increase

Plus, choose a longer Pre Payment Penalty (PPP) option and reduce your contract rate and APR.

Adjustable rate loans (2/28 & 3/27 ARM Loans)

Adjustable rate loans have a fixed rate for the first 2 or 3 years, and the remaining 28 or 27 years have an adjustable rate. The adjustable rate will change annually based on the Index applicable to your loan; however, the rate cannot increase or decrease each year more than a set percentage stated in your loan agreement. Exact pricing will be based on the amount of the loan and the amount you are borrowing compared to the purchase price of the home and your credit qualifications.

Advantages:

• Lower initial payment
• Fixed monthly payments for the first 2-3 years of the term

Plus, choose a longer PPP option and reduce your contract rate and APR-

Combo loans

With the Combo loan program, you take out two loans- a first mortgage loan for up to 80% of the property value and a second mortgage loan for the remaining 20% of the property value. For your first mortgage loan ( 80% of your property value) you can select a fixed rate mortgage or a 2/28 or 3/27 adjustable rate mortgage.

For the second mortgage loan (remaining 20%) you can select a 15-year balloon, where the payment is amortized over a 30-year term, or a fixed rate mortgage with a term of 10, 15, or 20 years.

The Adjustable Rate Mortgage is amortized over 30 years but will have a fixed rate for the first two or three years, depending on which loan you choose.

Advantages:

• No down payment required
• No private mortgage insurance (PMI) required

Available Programs

Full documentation

Business-for-Self : Last two years of 1040's and business tax returns.

Year-to-date profit and losses will be required if an extension for the previous year has been filed.
Paystub/W2 : Last 2 W2's and last 2 pay stubs

Lite documentation: Bank Statements

6 months personal and business banks statements are required.

Business-for-Self : Business license, CPA letter, or other acceptable verification is required.
Paystub/W2 : Requires a verification of employment

Stated Income documentation

Business-for-Self : Letter from CPA or tax consultant will be required
Paystub/W2 : Requires verification of employment

Are you interested?  Contact us... we'd like to hear from you!