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Is there an FHA industry-standard for easonable commuting distance?

April 26, 2017FHA

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Is there an FHA industry-standard for
easonable commuting distance?

1 Answer

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Posted

find anything specific and seems open to interpretation. We are moving 1 hour away for a job transfer- my house is for sale now (my mortgage is FHA). We have been house shopping and have put an offer in on a house in the new area. We want another FHA loan considering the better deal it offers compared to the other types of loans. But the underwriter from our new mortgage company is telling us that we don’t qualify for a second FHA because the hour plus commute is a ‘reasonable commuting distance’. I don’t think so! For one thing, it’s across state lines! I understand the guidelines as far as FHA not wanting buyers to use it as a vehicle to scoop up a bunch of investment properties- but that’s not what we are doing, plus my house is for sale! We would only ~temporarily~ have 2 FHA loans until my house sold. Help!