Relocation Mortgage Definition

A relocation mortgage is a type of mortgage offered to employees as an incentive to convince them to relocate for business purposes. The terms of relocation mortgage are usually similar to a standard mortgage except that the employer covers some or all of the costs associated with originating a new mortgage.

Often, a relocation mortgage is offered as part of a relocation package that also pays moving expenses. As terms vary widely among companies, individuals being offered a relocation mortgage should carefully examine what is being offered.