Debt & Income Worksheet QM

INCOME AND DEBT WORKSHEET

While this is not a required form, providing the information below will assist us in preparing initial disclosures and allow for quicker processing. This is not regulatory interpretation or legal advice.

Borrower Name: Borrower 1 Income Borrower 2 Income Self Employed Income Rental Income Other Income Total Qualifying Income

Loan Number $______________ Attach Income Calculation Worksheet (If not using income worksheet page 2) $______________ Attach Income Calculation Worksheet (If not using income worksheet page 2) $______________ Attach Income Calculation Worksheet $______________ Attach Income Calculation Worksheet $______________ Attach Income Calculation Worksheet $______________

Primary Residence Monthly Payment

Supporting Documentation

Primary P.I.

$__________________ ___________________________________

Front Ratio

2nd Mtg/HELOC Taxes

$__________________ ___________________________________ $__________________ ___________________________________

________________%

Insurance

$__________________ ___________________________________

Back Ratio

HOA/Flood/MI Primary PITI

$__________________ ___________________________________ $__________________

________________%

Additional Debt

Debts Rental Loss

$__________________ Total Monthly Debt from the final AUS/Credit Report/1003 (Excluding Primary PITI) $__________________ Attach Income Calculation Worksheet

Total Additional Debt $__________________

Total Monthly Debt $___________________

Credit Report Date Used to Calculate the Total Monthly Debt

Borrower 1 Credit Report Borrower 2 Credit Report _________________ ____________________

Debts Not Listed on the Credit Report

Payment

Supporting Documentation

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

_____________________________________ $_______________ __________________________________________

Debts Being Excluded from the DTI

Payment

Supporting Documentation

_____________________________________ $_______________ ___________________________________________

_____________________________________ $_______________ ___________________________________________

_____________________________________ $_______________ ___________________________________________

_____________________________________ $_______________ ___________________________________________

_____________________________________ $_______________ ___________________________________________

_____________________________________ $_______________ ___________________________________________

Total

$_______________

Notes

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1

INCOME AND DEBT WORKSHEET

While this is not a required form, providing the information below will assist us in preparing initial disclosures and allow for quicker processing. This is not regulatory interpretation or legal advice.

Borrower Name:_________________________________________ Loan Number: ____________________________

Borrower #1

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

Notes:

Monthly Earnings

Base Pay Rate

Income Calculations

Qualifying Income

$______________ ________________________________ $______________

$

________________________________ $______________

$______________________________________________ $______________

$______________________________________________ $______________

$______________________________________________ $______________

$______________________________________________ $______________

$______________ ________________________________

$______________

$______________________________________________ $______________

Borrower #1

Variable Income

YTD

Year

Year

Enter # Qualifying Income Months to

Average

Base

$______________ $______________ $______________ $______________ ________

W2 Income

$

$______________ $______________ $______________ ________

Bonus Income

$______________ $______________ $______________ $______________ ________

Commission

$______________ $______________ $______________ $______________ ________

Overtime

$______________ $______________ $______________ $______________ ________

Total; base,bonus,commission, & ot $______________ $______________ $______________ $______________ ________

Non-Taxable Income

$______________ $______________ $______________ $______________ ________

2106 Expenses

$______________ $______________ $______________ $______________ ________

Other Income

$______________ $______________ $______________ $______________ ________

Other Income

$______________ $______________ $______________ $______________ ________

Other Income

$______________ $______________ $______________ $______________ ________

Borrower #1 Total Qualifying Income

$_______________________

Borrower #2

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

Base Pay

Monthly Earnings Income Calculations

Qualifying Income

$______________ ________________________________ $______________

$______________ ________________________________ $______________

$______________ ________________________________ $______________

$______________ ________________________________ $______________

$______________ ________________________________ $______________

$______________ ________________________________ $______________

$______________ ________________________________ $______________

$______________ ________________________________ $______________

Notes: __________________________________________________________________________________________________

Borrower #2

Variable Income

YTD

Year

Year

Enter # Qualifying Income Months to

Average

Base

$______________ $______________ $______________ $______________ ________

W2 Income

$______________ $______________ $______________ ________

Bonus Income

$______________ $______________ $______________ $______________ ________

Commission

$______________ $______________ $______________ $______________ ________

Overtime

$______________ $______________ $______________ $______________ ________

Total; base,bonus,commission, & ot $______________ $______________ $______________ $______________ ________

Non-Taxable Income

$______________ $______________ $______________ $______________ ________

2106 Expenses

$______________ $______________ $______________ $______________ ________

Other Income

$______________ $______________ $______________ $______________ ________

Other Income

$______________ $______________ $______________ $______________ ________

Other Income

$______________ $______________ $______________ $______________ ________

Borrower #2 Total Qualifying Income

$______________________

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