Spoke with an HSBC Premier relationship manager today in San Francisco, here's what I found out:
You can qualify for Premier with a mortgage balance of 500k from them BUT you need to have 24 months of mortgage payments (in straight checking, in IRA, in brokerage? I dunno). I'm also not sure if that 500k can be a mix between mortgage and equity line.
401k (He probably meant IRA) balance of 100k can count.
If I can get a mortgage via HSBC Premier, the mortgage application fee is waived, and I can get .25% off their best rate.
The ordering is tricky though... if I am trying to qualify for HSBC Premier via a mortgage, I'm not sure I can get the Premier mortgage benefits at the same time (meaning I need to be a Premier member before trying to get a loan).
Also need to establish 3mos to 12mos of credit history before it can be transferred to an international office.
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The 500k loan amount has to be taken out for it to count... so a credit line of 100k doesn't count for anything unless it is used... and only the used portion counts towards the 500k.
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