This is for a co-worker/freind of mine.
Her and her husband bought a house almost 2 years ago, at that time their lender would not count her income since she was a contract employee (it was actually quite a nightmare for them since the lender prequalified them using her income and assure them there would be no issues with it, then after they went to underwriting it turned out her income couldn't be used so they had to scramble to find a way to buy the house). They had to get her parents to cosign the loan in order to buy. Recently, my company hired her as a full time, regular W2 employee in the same job position as she has been in during the last 2 years. They would love to refi their house to remove her parent's name from the mortgage (and possible remove PMI since housing prices have been skyrocketing around here) but don't know how long she needs to be a W2 employee before a lender will count her income.
So the question is how long do they have to wait before applying for a refi?
