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
01/09/14
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
$______________________
01/09/14
2
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