my salary is average. my wife salary was impressive. our salary combined would allow us to purchase a property of our dreams. we have substantial savings and good credit. she lost her job and she will be regaining employment in a couple months. she made enough money while she was working to save enough, which allowed her to stay home with our son and take time off. she wants to get back into the workforce.
how long after she gets hired, can we use her salary as income to be used on a mortgage app? she will be working in the same industry (pharm sales) with a different company. she was laid off over a year ago. she will regain employment by august of 2015. do we have to wait two years for her income to be used in a mortgage app? i remember before we had a letter from her employer stating her annual salary complete with her pay stubs which our lender used.
2014 we had combined income of 150k. so far we have only my income in 2015. if she does not go back to work in 2015 then only my income would be on our 2015 tax returns. my income is 50k.
if she regains employment by august she should have 5 months or 20 weeks. based on what she was making she should be earning around 1250/week gross. if she does regain employment by august she may bring our year end tax returns of 2015 to 70k+.
im just wondering when would we be able to use her salary as income for the mortgage app? how long after she gets hired is w2 income allowed? does the fact she will be in the same industry matter at all?