Calculator and Quick Reference Guide: Rental Income
For full functionality, download PDF first before entering data. Please download before each calculation as calculators are updated periodically.
Borrower(s) Name(s)
Loan Number
Calculator and Quick Reference Guide: Rental Income
Please use the following calculator and quick reference guide to assist in calculating rental income from IRS Form 1040 Schedule E. It provides suggested guidance only and does not replace Fannie Mae or Freddie Mac instructions or applicable guidelines. This method should not be used when calculating rental income on a borrower's primary residence. Check applicable guidelines when rental income is declining year to year. Please check with your own legal advisors for interpretations of legal and compliance principles applicable to your business.
Property 1
Rental Income Calculation
1 Gross Rents (Line 3)
2 Expenses (Line 20)
?
3 Depreciation (Line 18)
+
4 Amortization/Casualty Loss/Nonrecurring Expenses (Line 19) +
5 Insurance (Line 9)*
+
6 Mortgage Interest (Line 12)*
+
7 Taxes (Line 16)*
+
8 Other:
+/?
9 Annual Rental Income/Loss
=
10 Number of Months Considered (Line 2)***
/
11 Monthly Income/Loss
=
12 Monthly Mortgage Payment (Verified)
?
13 Monthly Net Rental Income/Loss**
=
Calculator Usage Note:
2016
2015
Divide for Monthly Totals
NOTES
*Only include if using the full PITI payment on Line 12 of this calculator or qualifying ratios.
**Net rental losses are typically included with liabilities when calculating the debt ratio.
$ 0.00
***Check applicable guidelines if not using 12 months.
$ 0.00
$ 0.00
$ 0.00
Property 2
Rental Income Calculation
1 Gross Rents (Line 3)
2 Expenses (Line 20)
?
3 Depreciation (Line 18)
+
4 Amortization/Casualty Loss/Nonrecurring Expenses (Line 19) +
5 Insurance (Line 9)*
+
6 Mortgage Interest (Line 12)*
+
7 Taxes (Line 16)*
+
8 Other:
+/?
9 Annual Rental Income/Loss
=
10 Number of Months Considered (Line 2)***
/
11 Monthly Income/Loss
=
12 Monthly Mortgage Payment (Verified)
?
13 Monthly Net Rental Income/Loss**
=
2016 $ 0.00
2015
NOTES
*Only include if using the full PITI payment on Line 12 of this calculator or qualifying ratios.
**Net rental losses are typically included with liabilities when calculating the debt ratio.
***Check applicable guidelines if not using 12 months.
$ 0.00
$ 0.00
$ 0.00
Rev 0117
This calculator can be found at mi.Training
Page 1 of 2
Property 3
Rental Income Calculation
1 Gross Rents (Line 3)
2 Expenses (Line 20)
?
3 Depreciation (Line 18)
+
4 Amortization/Casualty Loss/Nonrecurring Expenses (Line 19) +
5 Insurance (Line 9)*
+
6 Mortgage Interest (Line 12)*
+
7 Taxes (Line 16)*
+
8 Other:
+/?
9 Annual Rental Income/Loss
=
10 Number of Months Considered (Line 2)***
/
11 Monthly Income/Loss
=
12 Monthly Mortgage Payment (Verified)
?
13 Monthly Net Rental Income/Loss**
=
Property 4
Rental Income Calculation
1 Gross Rents (Line 3)
2 Expenses (Line 20)
?
3 Depreciation (Line 18)
+
4 Amortization/Casualty Loss/Nonrecurring Expenses (Line 19) +
5 Insurance (Line 9)*
+
6 Mortgage Interest (Line 12)*
+
7 Taxes (Line 16)*
+
8 Other:
+/?
9 Annual Rental Income/Loss
=
10 Number of Months Considered (Line 2)***
/
11 Monthly Income/Loss
=
12 Monthly Mortgage Payment (Verified)
?
13 Monthly Net Rental Income/Loss**
=
Net Rental Income/Loss for All Properties Listed
2016 $ 0.00
2015
NOTES
*Only include if using the full PITI payment on Line 12 of this calculator or qualifying ratios.
**Net rental losses are typically included with liabilities when calculating the debt ratio.
***Check applicable guidelines if not using 12 months.
$ 0.00
$ 0.00
$ 0.00
2016 $ 0.00
2015
NOTES
*Only include if using the full PITI payment on Line 12 of this calculator or qualifying ratios.
**Net rental losses are typically included with liabilities when calculating the debt ratio.
***Check applicable guidelines if not using 12 months.
$ 0.00
$ 0.00
$ 0.00
Learn More About Training Opportunities Genworth Mortgage Insurance offers a comprehensive suite of training opportunities to boost your know?how, benefit your bottom line and serve your borrowers better. View all of our course offerings at mortgageinsurance.training
Contact the Genworth ActionCenter? at 800 444.5664 Monday through Friday from 8:00 a.m. to 8:00 p.m. ET if you have any questions.
Print Form
Save Form
8953182.0117 Genworth Mortgage Insurance Corporation
?2017 Genworth Financial, Inc. All rights reserved.
Clear Form
Page 2 of 2
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- net rental income calculations schedule e
- calculator and quick reference guide rental income
- capital gain worksheet
- rent versus reimbursement calculator instructions
- rental housing compliance hud exchange
- second home with rental income lender job aid
- for full functionality download pdf first before entering
- loss of use in all 50 states chart 00215127
- chapter 5 determining income and calculating
- buying vs renting a home a financial analysis
Related searches
- free excel quick reference sheet
- hospice eligibility quick reference guide
- rental income and expense worksheet
- sba loan quick reference guide
- excel vba quick reference pdf
- excel 2010 quick reference card
- sba quick reference guide 2019
- mla quick reference sheet
- excel 2016 quick reference pdf
- excel quick reference cards 2019
- apa quick reference sheet
- python quick reference guide pdf