New Mortgage and wife's income question

Excellent question. In today's underwriting world, you will need to explain why your wife took time off of work. Maternity leave, even if for a few years is generally an acceptable reason for not working. Yes, you should be able to use the income from her new job for qualifying, although they underwriter will probably want to see at least 30 days of paystubs. If the position she is working in is identified by the employer as a seasonal or temporary position, the income would probably not be usable. That said, if a couple of months after the loan is funded she loses her job, that would not be an issue at that time. There are many other things to look at to make sure you are quialified at the time you purchase. I encourage you to contact me so we can make sure you are loan ready. If there are issues that could or should be corrected to make qualifying easier or pricing better, now would be the time to get them taken care of. I can help. Give me a call at 888-889-9950. I'm in Arizona and Tucson is my market.