Let’s crunch the numbers.

Self-Employed Calculator

Multi-step Calculator

Schedule C Partnership 1065 S Corp 1120S Corporation 1120 Variable Income Rental Income SSIPension Gross Up

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?

Returns from 2 Years Ago ()

Net Profit (31):

$

Non-Recurring Income (6):

$

Depletion/Depreciation (12&13):

$

Meals/Entertainment (24b):

$

Business Use of Home (30):

$

Vehicle Miles (Actual Miles):

$

Monthly Income: $0.00

Returns from Most Recent Year ()

Net Profit (31):

$

Non-Recurring Income (6):

$

Depletion/Depreciation (12&13):

$

Meals/Entertainment (24b):

$

Business Use of Home (30):

$

Vehicle Miles (Actual Miles):

$

Monthly Income: $0.00

Income is declining.

24 Months Average: $0.00

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?

Returns from 2 Years Ago ()

W2 Income (Box 5):

$

Percentage of Ownership (K1 J):

%

K-1 Income (1-3):

$

Distributions (K1 Box 19):

$

Guaranteed Payments* (K1 Box 4):

$

Other Ordinary Income (Line 4):

$

Nonrecurring Other Income (Line 7):

$

Depreciation (Line 16c):

$

Depletion (Line17):

$

Mortgages, Notes, Bonds < 1 Year (L Line 16):

$

Travel and Entertainment (M1 Line 4b):

$

Amortization:

$

Monthly Income: $0.00

Returns from Most Recent Year ()

W2 Income (Box 5):

$

Percentage of Ownership (K1 J):

%

K-1 Income (1-3):

$

Distributions (K1 Box 19):

$

Guaranteed Payments* (K1 Box 4):

$

Other Ordinary Income (Line 4):

$

Nonrecurring Other Income (Line 7):

$

Depreciation (Line 16c):

$

Depletion (Line17):

$

Mortgages, Notes, Bonds < 1 Year (L Line 16):

$

Travel and Entertainment (M1 Line 4b):

$

Amortization:

$

Monthly Income: $0.00

Income is declining.

24 Months Average: $0.00

*DU loans require a 2 year history to add in guaranteed payments from the partnership. LP loans allow for guaranteed payments to be utilized without a two-year history.

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?

Returns from 2 Years Ago ()

W2 Income (Box 5):

$

Percentage of Ownership (K1 G):

%

K-1 Income (1-3):

$

Distributions (K1 Box 16d):

$

Nonrecurring Other Income (Line 5):

$

Depreciation (Line 14):

$

Depletion (Line 15):

$

Mortgages, Notes, Bonds < 1 Year (L Line 17):

$

Travel and Entertainment (M1 Line 3b):

$

Amortization:

$

Monthly Income: $0.00

Returns from Most Recent Year ()

W2 Income (Box 5):

$

Percentage of Ownership (K1 G):

%

K-1 Income (1-3):

$

Distributions (K1 Box 16d):

$

Nonrecurring Other Income (Line 5):

$

Depreciation (Line 14):

$

Depletion (Line 15):

$

Mortgages, Notes, Bonds < 1 Year (L Line 17):

$

Travel and Entertainment (M1 Line 3b):

$

Amortization:

$

Monthly Income: $0.00

Income is declining.

24 Months Average: $0.00

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?

Returns from 2 Years Ago ()

W2 Income (Box 5):

$

Percentage of Ownership:

%

Nonrecurring Gains (Lines 8 & 9):

$

Nonrecurring Other Income (Line 10):

$

Depreciation (Line 20):

$

Depletion (Line 21):

$

Net Operating Loss (Line 29a):

$

Taxable Income (Line 30):

$

Total Tax (Line 31):

$

Mortgages, Notes, Bonds < 1 Year (L Line 17):

$

Travel and Entertainment (M1 Line 5c):

$

Amortization:

$

Monthly Income: $0.00

Returns from Most Recent Year ()

W2 Income (Box 5):

$

Percentage of Ownership:

%

Nonrecurring Gains (Lines 8 & 9):

$

Nonrecurring Other Income (Line 10):

$

Depreciation (Line 20):

$

Depletion (Line 21):

$

Net Operating Loss (Line 29a):

$

Taxable Income (Line 30):

$

Total Tax (Line 31):

$

Mortgages, Notes, Bonds < 1 Year (L Line 17):

$

Travel and Entertainment (M1 Line 5c):

$

Amortization:

$

Monthly Income: $0.00

Income is declining.

24 Months Average: $0.00

For a DU loan, business income can only be given if the borrower owns 100% of the business. For LPA loans, business income can be given if the borrower owns 25% or more of the business.

Variable Income

2 Years Ago	Last Year	YTD	Trend	2yr Average	Last Yr + YTD	YTD Average
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00

Rental Income

Does the most recent year of 1040 returns show rental income?

Are the 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

Rental Income

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

Conv $0.00

VA Bonus Entitlement Calculator

County Loan Limit (All Michigan $766,550)

$

How much entitlement is currently charged? (Check COE)

$

If desired loan amount is higher, enter here:

$

Entitlement Req.

-

Bonus Entitlement Available:

-

Max Loan Amount Without Down Payment:

-

Down payment needed:

-

Refinance Comparison Calculator

NMLS#2084716

Original Loan

Original loan amount

$

Original Term (years)

Current Rate

%

New Loan

New loan amount

$

New Term (years)

New Rate

%

Value of home

$

Taxes

$

Insurance

$

PMI

$

All Debts

Lender	Payment	Balance	Paid at close?

Current Payment

$0.00

New Payment

$0.00

Total Current Outflow

$0.00

New Outflow

$0.00

New Loan:

Total Debts	Current	Proposed
Minimum Payments (without Mortgage)	$0.00	$0.00
Mortgage Balance	$0.00	$0.00
Time Left on Current Loan	$0.00	$0.00
Taxes	$0.00	$0.00
Insurance	$0.00	$0.00
PMI	$0.00	$0.00
Rate	$0.00	$0.00
TOTAL Payments	$0.00	$0.00

Savings:

$0.00

Debts to Be Paid

Account Name	Payment	Balance
TOTAL	$0.00	$0.00

Savings are based on the difference between your current monthly payments and the proposed loan payment

Monthly Savings

$0.00

Yearly Savings

$0.00

5 Year Savings

$0.00

Life of Loan Savings

$0.00

Years Removed with Current Payment

$0.00

Cash Back at Closing

$0.00

APR:

%

NMLS# 2322797

Original Loan		New Loan
Original loan amount	$0.00	New loan amount	$0.00
Original Term (years)	0	New Term (years)	0
Current Rate	0.000%	New Rate	0.000%

Value of home	Taxes	Insurance	PMI	APR
$0.00	$0.00	$0.00	$0.00	0.00%

Current Payment	New Payment	Total Current Outflow	New Outflow
$0.00	$0.00	$0.00	$0.00

New Loan

Savings
$0.00

Debts to be paid

Savings are based on the difference between your current monthly payments and the proposed loan payment

Monthly Savings	Yearly Savings	5 Year Savings	Life of Loan Savings
$0.00	$0.00	$0.00	$0.00

Years Removed with Current Payment	Cash Back at Closing
$0.00	$0.00