My wife and I are buying a house in June. Her credit scores are (ex:680 eq:696 tu:682), mine are (ex:666 eq:626 tu:624). On my credit report are student loans(all in good standing), one closed cc with no late payments and I'm an authorized user on 2 of my wifes cc's(one with a cl of $28,000and bal. of $20,000 and the other has a $4000 cl and $3600 bal.). Would it help my credit score if my wife removed me as an AU on both, and I opened a cc in my name? Also, she is a doctor who sarts practice in July(already signed contract), would we have any problems getting a no down 30 year fixed for $400,000 with a combined income of $320,000 and the above mentioned credit scores? Thanks for the help!
How old are the cards you are an AU on? Regardless, I am guessing (because that is all we can really do here) it is hurting your credit to be on those accounts. That UTIL% on those cards is very high, and that will be showing on your credit also.
I will let someone else answer the rest of your mortgage related questions, but I would recommend straightening up both of your credit scores first. It could save you a lot of money in the long run if you can straighten out your scores over the next 12 months.
I agree with both of the PPs-high util is killing you. Something else to keep in mind is that if you remove yourself as AU, you will take some sort of a hit for credit mix. The best course of action is to get your util down as quickly as possible in order to see score increases on both of your CRs.
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