Any investors in Allentown or Bethlehem PA?

Any investors in Allentown or Bethlehem PA?

Member since 2024 · 5 posts · 0 votes

Hello everyone,

I currently live in Flushing, NYC and looking to purchase a primary residence in Allentown/Bethlehem/Easton PA. It's more affordable and the location is relatively closer to NY/NJ.

I planned to purchase a home first, settle in, and look for a job closer if commuting is too much work. The lender I talked to requires a job closer to the PA area. Which makes sense since it's a mortgage as a primary home.  For me, commuting is not going to be an issue. I work 3x/week and my partner lives close to my current workplace(NY). Finding my next job won't be an issue either. I work in a medical field and there's always a shortage. I did get preapproved for $500k with 10% down but I'm in search of a lender who will be more flexible with job distance. 

1. Does anyone know of a bank or an investor-friendly lender who will approve a loan with commute to New York? 

2. Is there any local REI group I can join? I'd be happy to connect with other investors in the area! I'd love to hear what the experiences have been like. Also, let me know if there's anything I can help with!

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  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    2y

    There is a handful of people who travel daily for work from the lehigh valley to NYC.
    While I wouldn't do it, many people do.
    The distance is approx 100 miles which isin't hard for a lender to believe. 

    Talk to any lender and they won't have an issue with it.

  • Member since 2024 · 5 posts · 0 votes
    2y
    Quote from @Basit Siddiqi:

    There is a handful of people who travel daily for work from the lehigh valley to NYC.
    While I wouldn't do it, many people do.
    The distance is approx 100 miles which isin't hard for a lender to believe. 

    Talk to any lender and they won't have an issue with it.


     Thanks! I’ll search around!

  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 671 votes
    2y

    Welcome fellow NYCer. Am I correct that you are doing a house hack ex. buying multi-unit and living in one?

    I didn't even know lenders care about job distance. I was living in Astoria, NY and moved to Lehigh Valley and nothing about that criteria

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