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INCOME AND DEBT WORKSHEET 01/09/14 Page 1 of 6 Posted 08/20/14 Borrower Name: ___________________________________________ Loan Number: __________...
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INCOME AND DEBT WORKSHEET

01/09/14

Page 1 of 6

Posted 08/20/14

Borrower Name: ___________________________________________

Loan Number: ____________________________________________

SUMMARY PAGE 

The figures on this summary must match exactly the final figures on the 1003/1008/Final AUS Findings and the MSI Data Trac Web.

Income Borrower 1 Income Borrower 2 Income Borrower 3 Income Borrower 4 Income Self-Employed Income Rental Income Other Income Total Qualifying Income

NOTES:  Attach an Income Calculation Worksheet to show the income calculation for each type of income and for each borrower. (Use other pages or attach other signed/dated detailed income calculation worksheet.)  For Self-Employed Income, you must attach the current Fannie/Freddie Self-Employed Income Analysis Worksheet – or equivalent.

$ $ $ $ $ $ $ $

Important: Income for all loans must be detailed on an Income Calculation Worksheet.

Primary Residence Monthly Payment Primary P & I $ 2nd Mtg/HELOC $ Hazard Insurance $ Taxes $ Mortgage Insurance $ HOA Fees $ Other (Flood/etc.) $ Primary PITI $ Additional Debt Debts: Rental Loss Total Additional Debt

$ $ $

Total Monthly Debt

$

Supporting Documentation (list & attach): Front Ratio

Back Ratio (DTI)



Total monthly Debt from the final AUS/Credit Report/1003 – excluding Primary PITI



Attach an Income Calculation Worksheet for Rental Income/Loss.

Credit Report Date used to calculate Total Monthly Debt: Qualifying FICO Score for each Borrower:

Borrower 1

Borrower 2

Borrower 3

Debts Excluded from the DTI

Total:

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $

Payment

Supporting Documentation (list & attach)

Payment

Supporting Documentation (list & attach)

 Loan is HPML/Rebuttable Presumption. RIE

(*Note: Non-Taxable Income may not be grossed up to calculate RIE.)

*Qualified Gross Monthly Income ______________ MINUS Gross Monthly Debt ___________________ Residual Income = $______________________

Liquid Reserves ______________________

UNDERWRITER NOTES:

Signed and Dated: _____________________________________________________________

%

Borrower 4

Qualifying LOAN FICO Score: Debts Not Listed on the Credit Report

%

INCOME AND DEBT WORKSHEET

01/09/14

Page 2 of 6

Posted 08/20/14

Borrower Name: ___________________________________________

Loan Number: ____________________________________________

WAGE EARNER INCOME CALCULATION WORKSHEET 

Complete and attach most current Fannie/Freddie Self-Employed Worksheet and/or a Rental Income Calculation Worksheet as applicable.

Borrower # 1

______________________________________________________________

Monthly Earnings: Social Security Base Income Paid Weekly Paid Bi-Weekly Paid Semi-Monthly Paid Monthly Annual Pay Hourly Other

$ $ $ $ $ $ $ $

Base Pay Rate

Income Calculations

$ $ $ $ $ $ $ $

Qualifying Income

Notes:

Variable Income: Base W-2 Income Bonus Income Commission Overtime Total from above: Non-Tax Income 2106 Expenses Other Income: _______________ Other Income: _______________ Other Income: _______________

$ $ $ $ $ $ $

Year: ________ $ $ $ $ $ $ $ $ $

Year: _______ $ $ $ $ $ $ $ $ $

Qualifying Income $ $ $ $ $ $ $ $ $

$

$

$

$

$

$

$

$

$

YTD

# Months to Average

Notes:

BORROWER # _____ –TOTAL QUALIFYING INCOME:

$

Signed and Dated: _____________________________________________________________ See attached calculation pages for  Self-Employed Income  Rental Income

INCOME AND DEBT WORKSHEET

01/09/14

Page 3 of 6

Posted 08/20/14

Borrower Name: ___________________________________________

Loan Number: ____________________________________________

WAGE EARNER INCOME CALCULATION WORKSHEET 

Complete and attach most current Fannie/Freddie Self-Employed Worksheet and/or a Rental Income Calculation Worksheet as applicable.

Borrower # 2

______________________________________________________________

Monthly Earnings: Social Security Base Income Paid Weekly Paid Bi-Weekly Paid Semi-Monthly Paid Monthly Annual Pay Hourly Other

$ $ $ $ $ $ $ $

Base Pay Rate

Income Calculations

$ $ $ $ $ $ $ $

Qualifying Income

Notes:

Variable Income: Base W-2 Income Bonus Income Commission Overtime Total from above: Non-Tax Income 2106 Expenses Other Income: _______________ Other Income: _______________ Other Income: _______________

$ $ $ $ $ $ $

Year: ________ $ $ $ $ $ $ $ $ $

Year: _______ $ $ $ $ $ $ $ $ $

Qualifying Income $ $ $ $ $ $ $ $ $

$

$

$

$

$

$

$

$

$

YTD

# Months to Average

Notes:

BORROWER # _____ –TOTAL QUALIFYING INCOME:

$

Signed and Dated: _____________________________________________________________ See attached calculation pages for  Self-Employed Income  Rental Income

INCOME AND DEBT WORKSHEET

01/09/14

Page 4 of 6

Posted 08/20/14

Borrower Name: ___________________________________________

Loan Number: ____________________________________________

WAGE EARNER INCOME CALCULATION WORKSHEET 

Complete and attach most current Fannie/Freddie Self-Employed Worksheet and/or a Rental Income Calculation Worksheet as applicable.

Borrower # 3

______________________________________________________________

Monthly Earnings: Social Security Base Income Paid Weekly Paid Bi-Weekly Paid Semi-Monthly Paid Monthly Annual Pay Hourly Other

$ $ $ $ $ $ $ $

Base Pay Rate

Income Calculations

$ $ $ $ $ $ $ $

Qualifying Income

Notes:

Variable Income: Base W-2 Income Bonus Income Commission Overtime Total from above: Non-Tax Income 2106 Expenses Other Income: _______________ Other Income: _______________ Other Income: _______________

$ $ $ $ $ $ $

Year: ________ $ $ $ $ $ $ $ $ $

Year: _______ $ $ $ $ $ $ $ $ $

Qualifying Income $ $ $ $ $ $ $ $ $

$

$

$

$

$

$

$

$

$

YTD

# Months to Average

Notes:

BORROWER # _____ –TOTAL QUALIFYING INCOME:

$

Signed and Dated: _____________________________________________________________ See attached calculation pages for  Self-Employed Income  Rental Income

INCOME AND DEBT WORKSHEET

01/09/14

Page 5 of 6

Posted 08/20/14

Borrower Name: ___________________________________________

Loan Number: ____________________________________________

WAGE EARNER INCOME CALCULATION WORKSHEET 

Complete and attach most current Fannie/Freddie Self-Employed Worksheet and/or a Rental Income Calculation Worksheet as applicable.

Borrower # 4

_____________________________________________________

Monthly Earnings: Social Security Base Income Paid Weekly Paid Bi-Weekly Paid Semi-Monthly Paid Monthly Annual Pay Hourly Other

$ $ $ $ $ $ $ $

Base Pay Rate

Income Calculations

$ $ $ $ $ $ $ $

Qualifying Income

Notes:

Variable Income: Base W-2 Income Bonus Income Commission Overtime Total from above: Non-Tax Income 2106 Expenses Other Income: _______________ Other Income: _______________ Other Income: _______________

$ $ $ $ $ $ $

Year: ________ $ $ $ $ $ $ $ $ $

Year: _______ $ $ $ $ $ $ $ $ $

Qualifying Income $ $ $ $ $ $ $ $ $

$

$

$

$

$

$

$

$

$

YTD

# Months to Average

Notes:

BORROWER # _____ –TOTAL QUALIFYING INCOME:

$

Signed and Dated: _____________________________________________________________ See attached calculation pages for  Self-Employed Income  Rental Income

Residual Income Evaluation Attestation RE: Date of Evaluation The undersigned hereby affirms and attests that in connection with the mortgage loan for Borrower name(s) securing the property located at

Residual Income Evaluation was performed on ______________ using documentation provided by the (MM/DD/YYYY) borrower prior to loan consummation. Signature: Printed name: Company: Title:

Date: