Income Calculator

Self-Employed Schedule C Borrower

For borrowers that claim self-employment income on Schedule C.

Is the borrower qualifying with one or two years of returns?

Self-Employed Partnership 1065 Borrower

For borrowers that claim self-employment income on Form 1065.

Is the borrower qualifying with one or two years of returns?

Is the borrower able to prove liquidity?

Self-Employed S Corp 1120S Borrower

For borrowers that claim self-employment income on Form 1120S.

Is the borrower qualifying with one or two years of returns?

Is the borrower able to prove liquidity?

Self-Employed Corporation 1120 Borrower

For borrowers that claim self-employment income on Form 1120.

Is the borrower qualifying with one or two years of returns?

Variable Income

Calculate qualifying income for variable compensation types (overtime, bonus, commissions, etc.).

Pay Stub End Date:

Income Type	2 Years Ago	Last Year	YTD	Usable Income	% Decline	% Increase	Use 2yr?	Use Last Yr?	Use YTD?

Rental Income

Calculate qualifying rental income from Schedule E.

Does the most recent 1040 return show rental income?

Are taxes and insurance for the property escrowed?

What is the total mortgage payment including taxes and insurance?

$

Total Rents Received (Line 3)$

Insurance (Line 9)$

Mortgage Interest Paid (Line 12)$

Taxes (Line 16)$

Depreciation / Depletion (Line 18)$

HOA Dues (Yearly)$

One-Time Extraordinary Expense$

Total Expenses$

Monthly Income$0.00

SSI Gross Up

Calculate grossed-up Social Security / pension income for FHA, VA, and Conventional loans.

Are we using a 1099 or Award Letter?

What is the total of Gross Pay? (Box 3 if SSI, Box 1 if Pension.)

$

On your tax return, what is the total of Box 6B?

$

FHA$0.00

VA$0.00

Conventional$0.00

Income Calculator

Self-Employed Schedule C Borrower

Returns from 2 Years Ago ()

Most Recent Year ()

Self-Employed Partnership 1065 Borrower

2 Years Ago ()

Most Recent Year ()

Self-Employed S Corp 1120S Borrower

2 Years Ago ()

Most Recent Year ()

Self-Employed Corporation 1120 Borrower

2 Years Ago ()

Most Recent Year ()

Variable Income

Rental Income

SSI Gross Up