Relocations Made Easy.
Here’s how you can incorporate the promotional offer and eligibility details into the Iris Mortgage LLC custom relocation package:
Updated Iris Mortgage LLC Custom Relocation Package Proposal
Relocation Mortgage Benefits.
Financial Assistance: Offer relocation mortgages that include financial aid to cover initial moving costs, down payments, and closing costs, significantly reducing the financial burden on employees.
Interest Rate Advantages: Provide the mortgage at competitive rates below current market levels to help minimize monthly payments. Interest rate buydowns may also be included.
Bridging Loans: Offer bridging loans to assist employees in managing the gap between selling their old home and buying a new one.
Comprehensive Relocation Support.
Closing Costs Subsidy: As part of the relocation mortgage, cover 2-5% of the loan value to handle closing costs. Furthermore, employees may be eligible for up to $1,000 off closing costs, making the move financially easier.
House-Hunting Trips: Fund several trips for employees and their families, including expenses for travel, lodging, meals, and childcare, enabling them to find their ideal home without financial stress.
Real Estate Assistance: Collaborate with skilled real estate agents to provide help in both selling the current home and purchasing the new home, simplifying the process.
Additional Benefits and Eligibility.
Expatriation Assistance: For international moves, include help for overseas house-hunting, logistics, visas, and schooling.
Tax Guidance: Offer detailed guidance on potential tax benefits from relocation mortgages, including mortgage interest deductions.
Consultation Services: Provide access to home loan consultants who can tailor mortgage options to meet individual employee needs.
Eligibility for Client Credit.
Credit Offer: Employees who are employed by, a member of, or affiliated with a participating Iris Mortgage LLC client may be eligible for a client credit of up to $1,000 for purchase or refinance transactions. Note, certain mortgages may not be eligible for this credit.
Terms and Conditions: This offer cannot be combined with other mortgage offers and can only be applied once per property within a 12-month period. Approval of the loan is subject to credit approval and program guidelines.
Employee Education and Support.
Relocation Seminars: Conduct seminars to educate employees about the relocation package, focusing on how to maximize the benefits, including the new client credit.
24/7 Support Line: Set up a dedicated line for employees to reach out with questions about their relocation, mortgage details, or the eligibility for credits.
Implementation Steps
1. Policy Development
Work with HR and financial experts to finalize the detailed policy incorporating these elements.
2. Vendor Partnerships
Build partnerships with real estate agencies, moving companies, and legal advisors to support comprehensive relocation services.
3. Employee Communication
Effectively communicate the updated relocation package, emphasizing new benefits and the eligibility for the client credit.
4. Monitoring and Adjustment
Regularly assess the policy’s effectiveness and adjust based on employee feedback and market changes.
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This revised proposal now includes the promotional client credit and eligibility requirements, enhancing the attractiveness of the package for potential and current employees of Iris Mortgage LLC and its affiliates.
Policy Integration and Communication.
Customizable Options: Ensure the relocation mortgage program is flexible to adjust benefits based on employee level and specific needs.
Feedback System: Implement a system to gather feedback to continually improve the relocation process based on employee experiences.
