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Relocation Mortgages
If you are being relocated by an employer, Clear Progress can offer you additional advantages on your mortgage.
- Expanded qualifying criteria, including trailing spouse income
- Clear Progress will pay for your appraisal if you close your mortgage with us. That’s a $325.00 value!
- Typically, we can match any offers from retail banks with whom your company may have relocation agreements.
To be eligible to take advantage of our relocation program, the following requirements must be met:
- The relocation must be a corporate-sponsored relocation. A corporate-sponsored relocating employee is defined as a borrower who is a transferred employee of a corporation, who is seeking to finance the purchase of a primary residence at a new job location.
- The borrower must submit written proof of corporate sponsorship; documentation must be from the corporation.
- Corporate sponsorship of the borrower's relocation program must be in an amount which is at least the lesser of (i) $5,000 or (ii) 10% of the borrower's gross annual salary, or (iii) 3% of the mortgage amount.
- The location of the borrower's new employment must be at least on hundred (100) miles from the former location.
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