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Has anyone applied to or does anyone have a mortgage with HSBC? I am planning to apply there because of their low rates and am hoping to get some feedback on their customer service, time they take with your application, etc.
I have them for a 2nd mortgage and from what I remember the process was pretty easy. but of course it's not a primary mortgage.
I also have a car loan thru hfc, and since they are basically the same company, I usually group my dislike together. They are a pain in my butt. on the flip side, they did work with me on the car loan, I got behind from being off work and worked out a repayment plan. thankfully last month was the last payment and now I'm caught up and 1 yr away from that being paid off. the mortgage is a couple years away and I can't wait.
Has anyone applied to or does anyone have a mortgage with HSBC? I am planning to apply there because of their low rates and am hoping to get some feedback on their customer service, time they take with your application, etc.
Thank you in advance for your help!
I couldnt tell you bad or good things about them. Do a google search with their name and complaints or reviews.
The best thing you could do is speak to someone you know and trust and ask who they used. The best source, in my opinion, is a referral from a trusted friend or relative.
I had a mortgage with HSBC and was very happy with them. It was our first home and the mortgage specialist was very good and very helpful. I also appreciated his honesty in helping us determine how much we could afford. This was in 2003 when banks were throwing money at people without any real concern for whether or not the borrower could realistically make the monthly payments. Their interest rates were good, no points and at the time of closing, everything went very smoothly. No surprises. We did have one late payment and they waived the late fee because we had always paid on time.
Forget about HSBC as a loan servicer in the sense that you can close with ABC or XYZ bank and your loan could end up with HSBC or the opposite way close with HSBC and your loan end up with ABC or XYZ.
Your Loan Officer makes or breaks your experience so get a referral from a trusted friend , coworker, or CPA and your process will go smoother.
Forget about HSBC as a loan servicer in the sense that you can close with ABC or XYZ bank and your loan could end up with HSBC or the opposite way close with HSBC and your loan end up with ABC or XYZ.
Your Loan Officer makes or breaks your experience so get a referral from a trusted friend , coworker, or CPA and your process will go smoother.
I agree, hard to beat a good referral from someone you know and trust.
If you're getting a good rate and are happy with the contract and terms of the loan, go ahead and go with it. Make sure, like pp said, to have a loan officer you trust and if you're unsure get somebody you know and trust and who is knowledgable in this area to review the contract for you. Once everything is signed, don't be surprised if your loan gets sold to another lender as this is fairly common in these economic times. In reference to whoever said to google HSBC to see the complaints, google any major bank and see if you don't find a slew of complaints. People are losing their homes all over and are mad and are complaining...some rightfully so, others not so much. Point being, all the banks have complaints about them so don't let that be a deciding factor especially when the bank you do get your loan from will probably not be the bank you keep your loan with.
I just apply with HSBC for a pre-approval and my loan officer was very helpful we even spend 3 hours asking him questions about the whole process and that without counting 2 hrs in another day prior...
so far a not-profit organization told us that HSBC was one of the best bank to do the mortgage because they haven't had any complain again them, just talk to your loan officer and ask questions like crazy i know we did that i thought the guy did not want to talk to us for like a month but he call us the next day to see if we have more questions.
i sent all my paper to HSBC today they will be running the credit tomorrow hopefully everything goes good...
i'm also looking to get a mortgage from HSBC. If you don't mind, could you refer your loan officer to me? Thanks!!
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