HSBC today announced the launch of HSBC CommunityWorks Opening Doors, a new program that provides home loans to home buyers in underserved counties in California, Florida, New York, New Jersey, Virginia, Washington and the District of Columbia. It comes into force on January 1, 2025.

The new grant provides up to $25,000 in down payment assistance to buyers who purchase a home with an HSBC CommunityWorks Mortgage, an existing product that provides $5,000 in closing cost assistance, financing up to ‘at 97% of the appraised value of a property and no private mortgage. insurance requirement (PMI), among other benefits.

“HSBC is committed to supporting financial fairness in the communities we serve by making home buying an achievable dream for people who might otherwise face barriers in their home buying journey. home,” said Leigh Smith, head of HSBC U.S. mortgages. serves a broad base of customers who live and work in the United States and abroad. This new grant allows us to broaden the reach of the clients we support.

HSBC CommunityWorks Opening Doors is funded by a four-year, $25 million partnership between HSBC and the National Community Reinvestment Coalition (NCRC) to advance opportunities in low- and moderate-income communities.

For more details regarding this program and location eligibility, click here.

About HSBC

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 60 countries and territories. With assets of $3.099 billion as of September 30, 2024, HSBC is one of the world’s largest banking and financial services organizations.

HSBC Bank United StatesNational Association (HSBC Bank USA, NA) serves customers through wealth and personal banking, commercial banking, private banking, global banking, and markets and securities services. Deposit products are offered by HSBC Bank USA, NA, Member FDIC. It operates heritage centers in the following countries: California; Washington, DC; Florida; New Jersey; New York; Virginia; and Washington. HSBC Bank USA, NA is the principal subsidiary of HSBC USA Inc., a wholly owned subsidiary of HSBC North America Holdings Inc.

For more information, visit: HSBC in the USA

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