Profile picture for JohnMurguia

Is there a limit on how far i can buy my home from where i work?

I work in long beach Ca and i want to buy my home in Santa maria Ca.
 about 180 mile apart.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012 - Long Beach
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (10)

Profile picture for JohnMurguia

I appreciate all the advice,it looks like i will have to take a trip to santa maria to see if it really is worth the effort.
 To everyone who responded,Thank You..

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 03 2012
Hi Cindy, you are totally correct, I read John's message wrong, he is able to rent and pay mortgage at the same time.  Now all he needs is a lender who verifies that and offers him a loan.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
I read that completely differently than Ofe. I understand you to be saying that you CAN afford to rent a home where you work and make a mortgage payment in addition. And I see no mention that you may rent out the new home?

it will be easier to qualify if you can prove that you often tele-commute or work from home, or have some sort of schedule that won't require a daily commute. You may also qualify for some very attractive financing for a second home anyway. Regardless, you can't change where you work or wish to buy, so just be upfront and see if it is possible or not. You may have to seek out more than one lender to get approved, since they all have different ideas about what a "reasonable commute" is to them. It may also make a difference if your spouse/partner will be living full time in the new home.  Good luck!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
Profile picture for wetdawgs
A loan for a primary residence can be turned down for distance.   There is not an exact number because each situation is different.   An airline pilot may be based out of Chicago but live in Denver, and that can be fine.   

If your thinking about renting by your job and visiting occasionally, it isn't your primary residence.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
Hi John  I suggest that you level with the lender and tell them the truth, that you want to buy an investment home.  You are not going to be living in it, most likely will rent it, as you already said, you cannot pay both mortgage and rent.  See what they have to say.  The best of luck! 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
Profile picture for sunnyview
Banks look for stability when they underwrite loans. If what you want is owner occupied mortgage rates on a house that you do not plan to occupy immediately, then you are taking a chance. Most lenders verify your residence after the loan is closed.

If you fail to occupy as agreed, you could be stepping into a situation that may be viewed by the bank as mortgage fraud. Before you do that, I would be straight with your lender and see what they say.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
Profile picture for JohnMurguia
Can a loan be turned down because of distance?
 i dont plan on moving  right away, i can afford to have the home there and still rent here. prices in santa maria are good and i have family there to watch over the home.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
We sold a home in Santa Maria (great place) to a couple that used to live in West Covina...how did they get around from here to there with my partner?  They used to take the train and had a car parked up there to go see property with--and then they would all come back home together.

It is a long journey.  I do not recommend it on a daily basis--it would be very taxing on you!

Best wishes from So-Cal and good luck
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
That is a personal decision, you probably will not have a life, if you do that, but then.....there must a reason, for you to even ask the question.  Good luck!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
There is no limit in the sense that you are the one with the commute.  The real issue would be that is a 6 hour commute and between wear and tear on the car, gas money and the value of your time, would it be worth it?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 29 2012
 
Related Questions
where does escrow money go to?
Profile picture for Dorene Slavitz
Latest answer by Dorene Slavitz
January 11 | 7 answers
how much is HOA in Sovereign Park Estates?
Profile picture for Kevin Donaldson
Latest answer by Kevin Donaldson
July 01 2013 | 1 answers
Seller is making no progress closing escrow
Profile picture for mlo6
Latest answer by mlo6
June 14 2013 | 3 answers
Any houses for rent section 8 approved in the city of long beach?
Profile picture for Josh Barnett
Latest answer by Josh Barnett
February 13 2013 | 1 answers
What rights does a buyer have in California when it comes to submitting an offer?
Profile picture for Kawain Payne
Latest answer by Kawain Payne
February 09 2013 | 10 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 1061 Park Ave, Long Beach, CA Home For Sale
    1061 Park Ave, Long Beach, CA 90804

     For Sale: $374,900

    • Beds: 2
    • Sqft: 1266
    • Baths: 2.0
    • Lot: 43560
  2. 2925 E Spaulding St, Long Beach, CA Home For Sale
    2925 E Spaulding St, Long Beach, CA 90804

     For Sale: $194,900

    • Beds: 2
    • Sqft: 880
    • Baths: 2.0
    • Lot: --
  3. 243 E Louise St, Long Beach, CA Home For Sale
    243 E Louise St, Long Beach, CA 90805

     For Sale: $349,000

    • Beds: 4
    • Sqft: 1178
    • Baths: 2.0
    • Lot: 6185