Can you use a co-borrower's income that started working for the self-employed borrower 12 months ago?

Question

If the borrower is 100% owner of an S-Corp, and the co-borrower spouse started working for him in Jan/2017 and can verify income via the year end pay statement, 2017 W2 and deposits into an asset account, can the co-borrower's income be used to qualify? Let's say that the 2017 personal and business tax returns are not yet required to be filed.

Answer 1

W2 wage earners can be eligible for mortgage loans with six months of continuous fulltime employment. The fact that the co-borrower is the spouse of the main borrower and works for the borrower may pose issues with the underwriter.