UTI's effect on Approval

[Kree]

Can't get my UTI down because expenses are too high.  Can't cut expenses without moving.  (already shoestring, last thing I can cut is myfico subscription and extra life insurance. will likely do both this month.) Can't work more due to health reasons.

A thought is to move an hour away and buy a house.  DTI calculators say I will go from 60% down to 29% by cutting my rent down for a much much cheaper mortgage.

1. Will a very high UTI effect approval rates?

2. Scores are 725 even with high UTI

3. Houses are expensive.  Will I actually save money by moving?  Most utilities are rolled into my rent, and I understand cheap houses can be money pits.

[kc0039]

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wrote:

Can't get my UTI down because expenses are too high.  Can't cut expenses without moving.  (already shoestring, last thing I can cut is myfico subscription and extra life insurance. will likely do both this month.) Can't work more due to health reasons.

A thought is to move an hour away and buy a house.  DTI calculators say I will go from 60% down to 29% by cutting my rent down for a much much cheaper mortgage.

1. Will a very high UTI effect approval rates?

2. Scores are 725 even with high UTI

3. Houses are expensive.  Will I actually save money by moving?  Most utilities are rolled into my rent, and I understand cheap houses can be money pits.

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1. No. It's your score and LTV that will affect the rates

2. Great

3. If you think you can cut expenses by factoring in mortgage, taxes, insurance, association dues, and have an emergency fund, then yes

[Kree]

Thought I could save money, but doing the math I would be adding about 500 a month in vehicle costs.  Mortgage would be 1200 less than rent, but my rent includes most utilities.   If it saves money it would be a couple hundred at most, but a couple hundred is all I need. 

Time to effort thought...a 3 hour round trip 5 times a week, would earn about 3 bucks an hour for my time (assuming 200 saved), and I could do better worknig at Mcdonalds (not that I can work at Mcdonalds.)

Will reasses. Thanks for input.  Good to know options.