There are so many reasons families may have to live separately for at least part time. Military families are used to this because of training, floats, or being called to action. But even after separating from the service, Veterans may need to live separately from the rest of the family. Often the reason is for employment. Sometimes there are reasons for the move, but an opportunity for a job transfer is not available yet. This scenario will often cause a problem with a mortgage because a borrower doesn’t live within a reasonable commuting distance of the job. In certain cases, there are ways we know how to buy a house in another state.
How to Buy a House in Another State using a VA Loan
Residential lending defines a primary residence as all borrowers occupy the subject home. But also the home must be within a reasonable daily commuting distance to work. Yet, there are situations where a homeowner may travel a long distance commuting to work. It is still considered a primary residence by the homeowners. Although lenders may believe differently according to primary residence guidelines. But VA loans may even allow for a job in another state. In today’s world many work remotely from home all the way up to traveling the globe. We have helped many Veterans buy a home using VA loan in cases like this.
Check Out These VA Loan Occupancy Exceptions!
Example of How to Buy a House in Another State Using VA Loans
Check out this scenario where a VA loan saved the day.
- Veteran and wife lived rent-free for a year
- This home is 1 hour 45 minutes from Veteran’s work
- Veteran commuted at this distance for a year
- So they want to buy a home 2 hours 45 minutes from Veteran’s work
- Veteran will continue to work and stay in the rent-free home 4 days a week
- The spouse will live in the new home in SC
- The Veteran will live in the new residence on weekends and holidays
So we were able to approve the buyers with a primary residence, VA home loan! We were able to achieve this by thoroughly documenting the file and meeting the VA occupancy requirement. The Veteran and spouse were able to close on their new Myrtle Beach home.
Example of Buying a Home in NC While Veteran Works in Georgia
Here is another scenario which other lenders were not able to approve, but we were able to close.
- Both Veteran and spouse live and work in Georgia
- The current house is in a resort area and would be retained
- They want to purchase a home in NC near their close family using a VA loan
- Spouse will occupy the new home full time
- Veteran will continue to work in GA as a pharmacist until a new job could be obtained near the new home
- Veteran will stay in the current home
- Non borrowing spouse has accepted a job near the new home and will start shortly after closing
So we were able to document the above scenario with good explanation letters. Additionally we proved the spouse’s new job in the vicinity of the new home as well as made sure the file meets VA guidelines. In the end, the Veterans were able to buy their home while the Veteran continued to work in GA. Although the Veteran will probably have a new pharmacy job in NC soon.
See Other Successes That Met VA Occupancy Requirements
How to buy a house in another state is possible! Foremost, keep in mind that if the scenario makes sense, can be verified, and we have an acceptable letter of explanation, we may be able to approve a VA loan where a borrower works a great distance from their work.
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We understand VA guidelines to help you get into a new home
Team Move lends in 46 states plus areas such as Wilmington, Leland, Hampstead, Jacksonville, Camp Lejeune, Whiteville, Shallotte, Southport, Elizabethtown, Lumberton, Fort Bragg, Pope Air Force Base, Fayetteville, Rockingham, Raleigh, Garner, Smithfield, Clayton, Goldsboro, Charlotte, Greensboro, Winston-Salem, Durham, Chapel Hill, Burgaw, Castle Hayne, Holden Beach, Supply, Ocean Isle Beach, Sunset Beach, Hubert, Tabor City, Carolina Beach, Kure Beach, Laurinburg, Topsail Beach, North Topsail Beach, Surf City, Sneads Ferry, Richlands, Wrightsville Beach, New Bern, Oak Island, Saint James, Wallace, Sanford, Pittsboro, Apex, Cary, Raleigh, Holly Springs, Fuquay Varina, Siler City, Southern Pines, Aberdeen, Pinehurst, Whispering Pines, Vass, Spring Lake, Fayetteville, Lillington, Hope Mills, Dunn, Angier, Smithfield, as well as the rest of NC. North Myrtle Beach, Myrtle Beach, Conway, Loris, Little River, Longs, as well as the rest of South Carolina, and Virginia.