Fannie Mae Income Calculator
Run the Fannie Mae Income Calculator without leaving IncomeXpert — no re-keying data, no separate login.
Why Fannie Mae Income Calculator?
Accurate Income
Income Calculator accurately calculates income for self-employed borrowers in accordance with Fannie Mae Selling Guide policy.
Better Underwriting
The Fannie Mae Income Calculator uses tax return data which provides more income information than tax return transcripts.
FNMA Rep & Warrant Relief
Fannie Mae will offer lenders relief from enforcement of representations and warranties for the accuracy of the income calculation at loan delivery.
Why FNMA IC and IncomeXpert?
If Fannie Mae Income Calculator is free to use on the FNMA website, why would you use it in IncomeXpert?
Automated Data Entry
IncomeXpert automatically extracts and enters the data the Fannie Mae Income Calculator needs — for every income source on the loan — eliminating manual keying and the errors that come with it.
Can you us the Fannie Mae Income Calculator directly from the Fannie Mae website? You can — but tax return uploads aren’t supported there, so your team enters all of that data by hand, one income at a time.
Full Loan Analysis
IncomeXpert calculates every income source on a loan file at once. The Fannie Mae Income Calculator’s free website version only works one borrower, one income source at a time — so a loan with three income sources means running it three separate times.
IncomeXpert shows both values for every income calculated — its own and FNMA’s — so you can select whichever one supports your loan scenario.
Full Rep & Warrant Coverage
IncomeXpert provides reps and warrants on all income types — giving you comprehensive rep and warrant coverage for every income on the loan file, including the ones the Fannie Mae Income Calculator doesn’t reach.
The Fannie Mae Income Calculator only offers relief for self-employed incomes it supports — currently REO, Sch C, 1065, 1120S, and 1120. Anything outside that list, or any self-employed income the calculator doesn’t cover, has no relief on its own. IncomeXpert closes that gap.
How does it work?
1: Upload Tax Returns
Upload your borrower’s tax returns and IncomeXpert will scan and extract the income data. IncomeXpert will automatically create income sources with the data from the supplied tax returns.
2: Review Loan
Once IncomeXpert has populated the loan data from the supplied tax returns the lender can review the loan file, address attestations, and finalize the submission to Fannie Mae Income Calculator.
3: Submit data to FNMA
When you are ready, you can submit the income data to the Fannie Mae Income Calculation worksheet directly from IncomeXpert. Results and advisories will be returned immediately.
Lenders can save the findings and reports from IncomeXpert and Fannie Mae Income Calculator in the loan file.
4: Submit income to DU
Lender submits the qualifying income amount to Desktop Underwriter. If all conditions are met, the loan is eligible for enforcement relief from reps and warrants related to the income calculation.
Income Calculator Information
Got Questions?
Book a discovery call with our team or request a demonstration.
Testimonial
I like that it is very user-friendly, especially with the aspect of changing calculation methods accordingly, per loan product type. It is nearly impossible to do an incorrect income calc with this software!
It’s a great product, and provides so much relief in underwriting.
User Friendly, And graphical representation make simple to understand.
I love that it consistently updates to the changes in rules and regulations for representatives. I love that I know that my income calculations will be the same no matter who on our team calculates it. That consistency is vital to fair lending, compliance and overall a strong loan portfolio!
It is very easy to calculate the income on Blueprint and the beautiful thing is you will get a detailed report generated which you and further review.
Everything about the software is awesome! Ever since I became a user back in 2016, my income calculations have gotten better, and my understanding of income has improved. I would recommend this program to any mortgage company, loan officer, or loan processor.
Frequently Asked Questions
The Fannie Mae Income Calculator is an income analysis tool created by Fannie Mae. It can be used for free via the FNMA website. Additionally it can be accessed via 3rd party integrators such as Blueprint.
Additional benefits and features are offered when using FNMA IC via a 3rd party that do not exist in the FNMA web version.
FNMA Income Calculator is available to any lender doing business with FNMA.
Currently FNMA IC supports REO, SchC, 1065, 1120, and 1120S income.
Fannie Mae Income Calculator is created by Fannie Mae and backed with rep and warrant relief.
Yes, but this is a key distinction between using the free version via the FNMA website and the IncomeXpert integration.
IncomeXpert allows you to use FNMA IC on each supported income in the loan file and get results back at a loan-level.
Using FNMA IC via the FNMA website requires you to analyze one income at a time, and does not allow you to upload tax returns for scanning. All data must be entered by hand for each income.