Possible mortgage

[brbmake]

Hubby and I are looking at getting a mortgage in about 5-6 months.  His credit score thru CCT is 733, according to Credit karma his is 719.  He only has one credit card that is 2.5 years old and a car loan that is 3 years old.  Perfect on time payments, no late payments.  His CCT shows 1 late payment on an old car and it shows it was 77 months ago.  His CC is at 20% utilization.  My score thru CCT is 705, and credit karma shows it at 723.  I have student loans that I began paying on 1 year ago and have no missed or late payments, the same car loan and credit card he has, and 3 additional credit cards, also no late or missed payments.  One of those cards I am the AU, it is my mom's card.  I just made payments today on the other 3 cards to get them under 29% utilization.  Is there anything else we can do to get ready for a mortgage application? I added hubby as an AU on one of my cards, and that has not reflected yet on his score.  Should I add him as AU on the others?  I have heard we need to be over 740 to get a great rate.  Thoughts or any other questions to give you a better idea.  

[me12345]

For Conventional loans the rates are Credit Score driven, and above 740 will get you a slightly better rate....However, If you are going FHA or VA there is not much difference, because the credit score is not the main factor in rates especially if you are at a 700 threshold already.

Thanks,

[ashjt2011]

My advice - 

Sign up for the myFICO credit monitoring. Credit Karma and others use different versions of scores that may not accurately reflect your true Fico that will be used for a mortgage. This will help you understand what score the lenders will actually be looking at. 

[homeloanexpert]

You have done a great job building your credit. But to tell you the truth, the pricing difference (cost or fee for the rate chosen) between 700-719 and 740+ is marginal at best in my pricing engine. I could add an additional AU account but it's not really necessary, you've done everything right. Feel free to PM if you have any additional questions.

[Anonymous]

I would not add any new credit accounts including AUswithin 6 months of trying to qualify for a loan. this could be seen as risky and could cause you to be denied.