Mortgage 300 miles away

[Anonymous]

I'll try to explain my situation as briefly as possible.

I am a federal employee looking to change careers and to relocate to a town 300 miles away. The federal hiring process is quite lengthy, but I have been "referred" for multiple jobs and am confident I will get multiple offers.

My credit score, DTI, income, and time at my current position are all well over the threshhold needed for a mortgage.

I would like to get the ball rolling now so I can close on the house before I even accept the new position. Would underwriting have a problem making the loan being that the home is 300 miles from where I currently work?

I'm looking to go through Veteran's United for a 30 year VA home loan. Thanks all

[VALoanMaster]

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@Anonymous wrote:

I'll try to explain my situation as briefly as possible.

I am a federal employee looking to change careers and to relocate to a town 300 miles away. The federal hiring process is quite lengthy, but I have been "referred" for multiple jobs and am confident I will get multiple offers.

My credit score, DTI, income, and time at my current position are all well over the threshhold needed for a mortgage.

I would like to get the ball rolling now so I can close on the house before I even accept the new position. Would underwriting have a problem making the loan being that the home is 300 miles from where I currently work?

I'm looking to go through Veteran's United for a 30 year VA home loan. Thanks all

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Hi 09ROPSI,

Unfortunately yes, buying a home 300 miles away from where you work will be a problem. The only way this will happen is if you have a spouse/dependant child who will occupy the home until you can secure a job & move. If this is an option for you, you'll also have to qualify with your current housing expense counted as a monthly debt. I would also think about a different lender.

[CaliforniaLoaner]

Agreed - you will need to have a good reason that you are purchasing a home 300 miles away. One might be that you are able to work from home, which this will most likely need to be verified through your employer that you are allowed to do so.