Income analysis for non-taxable income, grossing up, alimony, dividend income, and more.
How do I gross up non-taxable income? Non-taxable income refers to earnings exempt from income taxes. Common examples include child support, alimony, Social Security income, VA benefits, interest income, and
Our last blog we talked about how the changes to the 2018 1040 tax form affected mortgage underwriting requirements. The key topic in that blog was that mortgage calculations were the same, but the location on
One of the basic requirements from both FNMA and FHLMC is for the underwriter to determine the stability of the income used to qualify. This is where the concept of
Sometimes you need that extra income to get your borrower over the DTI hump to move them from declined to qualified. One item that many loan officers want to turn
Have you ever completed a process at work over and over, so much so that you don’t even think of the action when you are doing it? For example, your
This installment of the Underwriting guy video blog is Interest / Dividends / Capital Gains. Today we will review the following What the guidelines from FNMA on using interest /dividend/capital
