Looking to buy buy a home over 2 hours from work. I currently rent. Will FHA allow for this distance?

Asked by Looking To Buy, San Jose, CA Sat Jan 21, 2012

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Lawrence Gil…, Agent, San Jose, CA
Mon Jan 23, 2012
I also side with Lance on this one. I have had clients that had purchased in the Central Valley, only to sell that property and move back to the San Jose area because the commute eventually took a toll on them and they had no "quality of life". Also, the high gas prices and the additional wear and tear on your vehicle can add to your frustration. It works for some, but not everyone.

1 hour to get ready for work + 4 hours commute + 8 hours work + 1 hour lunch... that's 14 hours of your day consumed, and leaves10 hours to enjoy family & friends, make/have dinner, do chores and sleep.

Now, if you are like most of us that often work 10-hour to 12-hour days... or more... well... you get the picture.

Only you know what is best for you. Best of luck to you.
1 vote
Robert Chome…, , San Diego, CA
Mon Jan 23, 2012
It's possible with a good letter of explanation why you are going to buy so far from work.
1 vote
unitedloanfi…, Home Seller, San Jose, CA
Thu Nov 15, 2012
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0 votes
Ruth and Per…, Agent, Los Gatos, CA
Fri Jan 27, 2012

While FHA will allow for this distance, the issues will be, commute time, gas, quality of life,
car insurance, potential accidents.

Better to rent or buy a condo in San Jose.

Good luck.
Web Reference:  http://www.ruthandperry.com
0 votes
, ,
Tue Jan 24, 2012
In some areas it is common to commute for affordable housing. There are some good answers here and I think they all apply.
0 votes
Laura Coffey, Agent, Santa Clarita, CA
Mon Jan 23, 2012
FHA should allow that if its your primary residence. However if you own another propertythat is better than the one you want to purchase that could cause a red flag.
Good luck. :-)
Web Reference:  http://www.laura4homes.com
0 votes
Michelle Vel…, , Burlingame, CA
Sun Jan 22, 2012
If this is going to be your primary residence, it should not be a problem but there are other factors that the underwriter will look at. I have seen several situations when the borrower is specifically going to live in the property but the underwriter did not believe it.

I agree with Lance, you really should consider the quality of life before making this decision. I commuted for many years and it can really take a toll on you.

I would be happy to talk to you more about that.

Warmest regards,
Michelle Velez
Partners Mortgage
DRE # 01222455
NMLS #272427
0 votes
charles butt…, Agent, san jose, CA
Sun Jan 22, 2012
Thank you for your question:

Yes FHA will allow that.

I have several clients who commute to San Jose from the Central Valley, which is over a 2 hour commute from San Jose, because the price of homes in the Central Valley is so much less than the price of homes in San Jose. I did get FHA financing for those clients.

In the Central Valley you can get a very nice, large single family home in excellent condition on a large lot, with a beautiful yard in a very nice neighborhood for the same amount of money that you would have pay for a tiny apartment style condominium in poor condition, that needs a lot of work just to make it habitable, in San Jose.

For more information, please call me at: (408)509-6218

Thank you,
Charles Butterfield
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
0 votes
Lance King, Agent, San Francisco, CA
Sun Jan 22, 2012
I would think long and hard about this kind of commute. Your quality of life is going to be severely diminished. If you have a spouse and/or kids, the few moments you'll see them you'll be so tired/stressed out you won't be all there anyway. The weekends will just be recouping from the week.

You might want to think about setting up a budget for where you are, and perhaps finding a cheaper apartment so you can eventually afford to buy something closer to home. You might try doing that commute for a few days and see how you feel after.

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
0 votes
Norman Aless…, Agent, San Jose, CA
Sun Jan 22, 2012
Your answer has been covered by the other agents, what you want to do is chose a lender and agent who will work with you to get this to happen with the least amount of stress.
At your service,
CDPE- Certified Distressed Property Expert
DRE# 01397256
0 votes
Alain Picard, Agent, Puyallup, WA
Sat Jan 21, 2012
As everyone is saying there shouldn't be a problem as long as it is your primary residence.
0 votes
Rey Gallegos, Mortgage Broker Or Lender, Las Vegas, NV
Sat Jan 21, 2012
FHA will allow it as long as it is reasonable and can be justified. The great thing about FHA loans is that they are make sense loans. My FHA underwriters are happy to approve situations like this.

Call Me at 702-808-8328. Let's make you a homeowner!
0 votes
Andrea Wince…, Agent, Milpitas, CA
Sat Jan 21, 2012
Not unusual for some homeowners to commute two hours to work.
0 votes
Gregorio Den…, , San Diego, CA
Sat Jan 21, 2012
There is no problem with the distance as long as it's really your primary residence. 2 hour commutes are nothing out of the ordinary in the Bay Area. as long as you don't own another property this won't be questioned. If you do own another property then that's a different story.
Web Reference:  http://WeFixRates.Com
0 votes
James Mauldw…, Agent, Saratoga, CA
Sat Jan 21, 2012
As long as it is owner occupied there would be no problem.

Jim Mauldwin
Intero Real Estate
Dre # 01125380
Since 1991
Web Reference:  http://jimmauldwin.com
0 votes
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