Banking

Currently, Advancial Credit Union is offering a relocation mortgage with special rates for employees relocating with their family. Below are the guidelines for being approved for a loan:

1. 01

   Minimum of at least 5% down without U.S. credit history.

2. 02

   They can work with a local Houston banker from one of our branches, but will need to make sure the local rep they’re working with knows they are part of a corporate relocation and registers the loan with our department — this ensures they receive all of the relocation rates and benefits.

3. 03

   Will need to have an eligible work visa before closing.

4. 04

   May need to show proof of application for a U.S. Social Security Number before closing.

Any amount less than 20% down will likely require 3–4 alternative credit reference letters. These can be letters from a bank, landlord, utility company, etc. that they have used in their country of origin stating that they have had open accounts for at least 12 months and made all payments on time. The letters will also need to be written or translated into English.

Certain counties may also require more than 5% down if our appraiser lists that there is an oversupply of homes in the area or it is a declining market — though there is nothing in the Houston area that this would apply to right now.