Moffat has been a long-term target for Dynamo coach Dominic Kinnear.
"It gives us some flexibility to go out and get something here," Kinnear told the Houston Chronicle.
"We've been talking to some people. It's just a matter of if it's going to get done or not. Obviously, in the salary swing, with two players for one, it gives us a little bit more money in the salary cap. It gives us some flexibility that makes possibilities a little bit more realistic."