Can wife be included on home loan or, at least her income considered

[Anonymous]

My wife and I would like to start a new build soon. Waiting for my 2016 transcripts to be ready. My question is, can my wife be included on the home loan and if not, will her income even be considered? This would be for a conventional loan. Her situation is that she has been a stay at home mom. She recently got certified as a dental assistant and has employment at a Dental office currently after getting certified. She has been employed for 1 month. She is paid hourly (~30-35 hrs a week). I will be the primary on the loan as my salary is much higher and I have 2 yr job history at my current job and 10yrs experience in my field. I hope I have given enough information to answer the question. Thanks!

[StartingOver10]

So did she go to school to get her certification? 

And she just graduated and is working in her field?

^^If yes, I think this is one of the exceptions to the 2-year rule (in a good way) - after all, she is getting a W-2 right and not a 1099?

[Anonymous]

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@StartingOver10 wrote:

So did she go to school to get her certification? 

And she just graduated and is working in her field?

^^If yes, I think this is one of the exceptions to the 2-year rule (in a good way) - after all, she is getting a W-2 right and not a 1099?

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She did go to a ~4 month dental certification course. She is working in the field she got the certification for and is getting a W-2.

[StartingOver10]

I think that qualifies as education ....but one or more of the LO's would have to respond to be sure.

[Anonymous]

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@StartingOver10 wrote:

I think that qualifies as education ....but one or more of the LO's would have to respond to be sure.

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Great thanks for the input. I'll wait to hear from some of the LOs on the board. 

[kc0039]

Is she considered full time or part time?

[Anonymous]

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@kc0039 wrote:

Is she considered full time or part time?

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I am not sure how that is determined. She works all the hours that the dentist office is open. So in that regard, it would be full time. However, if there is a rule that states how many hours are full or part time, then I am not sure what 30-35 hrs a week is considered. 

[Anonymous]

The dept of labor has no definition of full time and is left up to the employer to determine.
According to the IRS full time is considered 30+/ per week or 130+/mo. My guess is 30-35 is considered full time. My full time employment consists of 37.5hrs

[kc0039]

There's different scenarios for each program. FHA states that two years of part time job uninterrupted. 2 consecutive years for conventional. Translation is up to the underwriters. If her employer considers her as part time, you can't use her income at all

[H-B]

Her income can be considered on loan application. You have to provide her transcript to the lender.