questions on conventional financing qualification

[Tracey Hamilton]

I have a few questions about qualifying as an individual for an owner occupied sfh with conventional financing. these will be specific to a newly divorced woman applying for the first time on her own. 1) is w2 income received from an llc s-corp business owned by the applicant treated any differently then w2 income received from an unrelated employer? would this even need to be disclosed? 2) for purposes of dti ratios, is only the current rate of pay considered, or is an average of the last two years w2 income used? 3) can a two-year guaranteed-compensation employment contract be presented in lieu of the typical requirement of two years employment history? if so, would it be disallowed if the applicant were the signing officer for the corporation? thank you!