Home Buying in Sacramento>Question Details

Carineddionne, Home Buyer in Lancaster, CA

Hello, Does anyone out there know if we can buy a house in sacramento to live as a first time buyer, using a va loan, while working in San Francisco?

Asked by Carineddionne, Lancaster, CA Mon Oct 7, 2013

We are waiting for openings for my husband to transfer, meanwhile we want to get settled to be near his mom who is ill. We previously spoke with a lender last year who was not open to our doing this, but maybe there are other lenders who may, or is this a solid no through out?

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24
Typically, if a job is the reason for a long commute, coupled with the affordability of a market away from your job, could be justifiable reasons. A lender would have to look at your situation and determine if an explanation letter would suffice.
3 votes Thank Flag Link Wed Oct 9, 2013
Yes you can. I am a vet and have helped other vets buy homes with VA financing. Feel free to give me a call and we can chat.
-Sam
3 votes Thank Flag Link Mon Oct 7, 2013
You said first time homebuyer, so I assume you've not used your VA benefits yet. There are some documents you will need to gather, such as your DD214...so start working with a lender first. Bob Willett, who answered here, is an excellent lender who could help.

Next, now is a perfect time to be looking for a home as the market has slowed down with the normal seasonal slowdown, but you are fortunate in that the economic disputes in our government has dropped the mortgage rates back down to the lowest rates.

You didn't specify a timeframe on when you would be relocating, with your mother in law being ill. A typical purchase will take you a minimum of 60 days, assuming you find a home within the month...and that is rare with our low inventory. A short sale also gives you a longer cycle so Bob's idea is good there as well for your circumstances. Either way, you can't predict when you will find a home and be in contract so there's no reason to create a delay in your home search after getting your loan paperwork in place. I'd just suggest, with the government shutdown currently in effect at this writing, that you try to get as far as a preapproval, rather than a prequalification, so that you don't experience any unexpected delays with the government shutdown.

It's strange times....go for it, and don't imagine any hindrances. You'll get some but handle them then, when they're REAL. Start with contacting Bob Willett.
1 vote Thank Flag Link Tue Oct 8, 2013
About a year ago I closed a VA loan for a single man in the Sierra Foothills who was working out of Morgan City, Louisiana. Obviously there were some unique circumstances that made it possible to show that this was actually going to be the buyer’s primary home. In order to buy in Sacramento and work in San Francisco you will have to show two things:

First, are you really going to live there? Lenders are very suspicious about applications where the distance between the job and the home are too great. Are you really buying the home for a friend? A family member? A girl or boyfriend? Is this really going to be a 2nd home and NOT your primary home? The loan file will need to address these concerns in detail.

Second, can you do this? The lender will be looking to see if this is a living situation that you can both afford AND can physically do over the long haul. I worked in Stockton for several years, and we did a lot of loans for people that bought in Stockton and commuted to the South Bay Area. The problem is many of these people only did so for a short time because the commute was too much. They either took lesser paying jobs in Stockton – and then had difficulty with the payments, or moved back to the Bay Area trying to keep the Stockton home as a rental. Lenders know this, and the loan file will need to address this issue up-front, or the lender will not look favorably on the loan application.

So get with a good lender, and put the whole story together. If you need my help on this contact me through my profile. Best of luck.
Web Reference: http://www.SacRELender.com
1 vote Thank Flag Link Tue Oct 8, 2013
I would be happy to assist you to find a home in Sacramento that qualifies for a VA loan
Tracy Young 916-348-9000

Thank you!
1 vote Thank Flag Link Mon Oct 7, 2013
The simple answer is yes.

Please contact me and my team can take care of everything. The loan, finding the house and the insurance.

We are ready to work for you.

We look forward to earning your business.

Jamie Collins
916-257-3779
Re/Max Gold
1 vote Thank Flag Link Mon Oct 7, 2013
You absolutely can, I see no reason why not. Your ability to qualify, VA loan or otherwise should be based on your ability to repay the loan (i.e. your credit score, history and debt to income ratio). If you plan to live in the home, without paying rent or other mortgages in the Bay Area, it should not be a problem.

You can contact Evelyne Jamet at Vitek 916-452-8800 or 916-947-8800 for an initial pre-qualification. I can' t imagine she'd say no to your scenario.

Let me know if you want additional help, can send listings, show you homes, once you've got a lender on board. Contact me here or thru my website. GOOD LUCK!
Web Reference: http://www.kyleeroe.com
1 vote Thank Flag Link Mon Oct 7, 2013
Hi. I would be happy to answer any questions you have on your move to Sacramento. We have closed loans in which the borrower lives in Sacramento and works in the Bay Area.

Please give me a call at your convenience. We are a direct VA lender.

Chris Leichus
Big Valley Mortgage
(916)601-8583
Christopher.leichus@apmortgage.com
1 vote Thank Flag Link Mon Oct 7, 2013
As long as you can prove it will be your primary residence you will be fine. The fact that you don't own any other properties should make it a no-brainer. The VA allows the spouse to occupy to establish owner occupancy anyway so I'm unsure why you had an issue with this in the past. I'd be happy to pre-approve you.
1 vote Thank Flag Link Mon Oct 7, 2013
Thanks for the additional information. It still doesn't matter; you should be able to purchase as a primary residence quite easily.
Flag Tue Oct 8, 2013
Actually we both work in San Francisco, but as he is waiting for a transfer, I will simply apply in my field. Thank you for responding.
Flag Mon Oct 7, 2013
Yes! Although that is a far drive you should be fine as long as you use the home with the VA loan as your primary residence. I am a lender based out of California and I have done plenty of loans throughout the state. I would be glad to speak with you to help you get the loan that you need. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Fri Feb 14, 2014
You should contact a local Realtor they can help you find the right lender. I'm sorry to hear of your mother in law's illness. Find another lender, living and working in a different city is not really an issue. Good luck in your search!
0 votes Thank Flag Link Sun Nov 17, 2013
Yes! It can be explained to underwriting that you have a job in San Fran I do not see a problem. If you want some help visit our site or email me..
0 votes Thank Flag Link Fri Nov 15, 2013
Yes you can, Let me know if you need any info on how to buy with a VA Loan using no money down and No closing cost aka VA NO NO Loan.
0 votes Thank Flag Link Fri Nov 8, 2013
hola, yes you can BUT you will need the proper letters and documentation to prove youre commuting and not just using the VA loan to get a house w no money down. best of luck - Adrian@loandude.net
0 votes Thank Flag Link Mon Nov 4, 2013
Adrian.. welcome to the party..
Flag Mon Nov 4, 2013
I didn't see in the prior responses.. Ask ur lender if they will assess a commute expense against u for qualifying if u commute daily or an expense for renting out an apt in SF during the week.

If u are married and ur spouse works in sac and ur kids are going to school in Sac this will help with the sniff test ( truth or fiction)
0 votes Thank Flag Link Sun Nov 3, 2013
Will you commute to San Francisco for work and use the home in Sacramento as a primary residence?

Contact me at 916-529-3707 if you still need help with this. We have offices in Sacramento and San Francisco.
0 votes Thank Flag Link Tue Oct 8, 2013
You have to write an acceptable letter of explanation,

Rich Littlefield
949-297-1207
NMLS 287206
0 votes Thank Flag Link Tue Oct 8, 2013
Hi Carine,

We do a lot of VA loans, based on the scenario you described we can help you get pre-approved and come up with a strategy that's comfortable for you. Just give me a call and we can discussed the details!
Rena
916-933-7048
0 votes Thank Flag Link Tue Oct 8, 2013
Hi Carine,

Yes, you can potentially purchase a property near your mother in-law and commute to San Francisco. While it is a bit of a commute, VA will be looking for a net benefit of you living in Sacramento. In this case, it is to be near your family and provide assistance.

If you have any questions, feel free to contact me via my profile. I specialize working with military families in the San Jose area, and our office is located here in San Ramon.

Best,

Bryan Mecsey
Direct: (925)394-7764
Email: bmecsey@commercemtg.com
0 votes Thank Flag Link Tue Oct 8, 2013
It's sort of a sorry state of affairs when Sacramento is considered a commuting city to San Francisco, but in this economy, I know of many who traverse the often grueling drive; so, I can't imagine the disqualification from the previous lender for your VA had to do with your commute. Whatever the problem was back then might have resolved itself by now, so it would be a good idea for you to get preapproved by another VA lender.

You may also find that many sellers and their listing agents in Sacramento will not want to accept an offer from a VA buyer, so be prepared to meet rejection. It doesn't mean you can't buy a home, though.

My suggestion is to look at short sales; for example, I sell many short sales to VA buyers. In fact, I am closing a VA transaction in a few weeks, and that particular short sale had dozens of offers, but my seller cared enough to choose the VA buyer. The lender for that VA buyer is Dan Tharp, Comstock Mortgage, 916.257.1470.
0 votes Thank Flag Link Tue Oct 8, 2013
Let me add that your current home can have VA financing but you must sell first and reinstate your VA in order to purchase.
0 votes Thank Flag Link Tue Oct 8, 2013
As long as your current mortgage isn't a VA loan.
There are pros and cons to using VA financing. Also depending on your price range.
If you would like more information feel free to contact me.
0 votes Thank Flag Link Tue Oct 8, 2013
Yes

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Mon Oct 7, 2013
Hi

There's plenty of places. What else are you looking for? I focus on customers needs and specialize in Sacramento. Please call me at 415-705-9405.
0 votes Thank Flag Link Mon Oct 7, 2013
http://www.myeagleeyerealty.com
Flag Mon Oct 7, 2013
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