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🏠 Family-Owned & Operated
🔒 Licensed in UT · ID · FL · CO  |  NMLS #2133626
Loan Officer Tool

Income Calculator

Qualifying income calculation for all borrower types — Schedule C, Partnerships, S-Corp, Corporation, Variable Income, Rental, and SSI/Pension gross-up.

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This tool is designed for mortgage professionals. Results are estimates for planning purposes and do not constitute a loan commitment or guarantee of qualification.

← All Calculators
Schedule C
Partnership 1065
S Corp 1120S
Corporation 1120
Variable Income
Rental Income
SSI / Pension Gross-Up
Self-Employed — Schedule C

For borrowers reporting self-employment income on Schedule C

Qualifying with one or two years of returns?
Self-Employed — Partnership 1065

For borrowers reporting income on Form 1065

Qualifying with one or two years of returns?
Is the borrower able to prove liquidity?
Self-Employed — S Corp 1120S

For borrowers reporting income on Form 1120S

Qualifying with one or two years of returns?
Is the borrower able to prove liquidity?
Self-Employed — Corporation 1120

For borrowers reporting income on Form 1120

Qualifying with one or two years of returns?
Variable Income

Bonus, overtime, commission, part-time — enter year-over-year and YTD amounts

Income Type 2 Years Ago Last Year YTD Trend 2-Yr Average Last Yr + YTD YTD Average
Rental Income

Schedule E rental income analysis

Does the most recent year of 1040 returns show rental income?
Are taxes and insurance for the property escrowed?
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 Rental Income
$0.00
SSI / Pension Gross-Up

Social Security and pension income gross-up for FHA, VA, and Conventional

Are we using a 1099 or Award Letter?
Total Gross Pay (Box 3 if SSI, Box 1 if Pension)
$
Total of Box 6B on tax return
$
FHA
$0.00
VA
$0.00
Conventional
$0.00

Gross-up percentages: FHA = 15%, VA/Conventional = 25%. Verify current FHA guidelines as they may vary by investor.

For mortgage professional use. Results are estimates only and do not constitute a loan commitment or qualification guarantee. Always verify with DU/LP findings and current agency guidelines.
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Licensing

State Licenses & Disclosures

Quazel Mortgage (New Point Lending) is licensed to conduct business in the following states:

Colorado
Mortgage Company Registration
Regulated by the Colorado Division of Real Estate
Florida
Mortgage Broker License #MBR4669
Regulated by the Florida Office of Financial Regulation
Idaho
Mortgage Broker/Lender License #MBL-2082133626
Regulated by the Idaho Department of Finance
Utah
Mortgage Entity License #12221828
Regulated by the Utah Division of Real Estate
Verify at NMLS Consumer Access ↗