See what a mortgage lender actually counts from your self-employed tax returns. This calculator walks you through Schedule C (sole proprietor), S-Corporation (Form 1120S/K-1), and Schedule E (rental income) line by line — adding back non-cash deductions to calculate your qualifying income the way underwriters do.
How It Works
Select your business type: Schedule C, S-Corporation, or Schedule E rental income
Enter your tax return figures for the two most recent years (net profit, depreciation, depletion, amortization, business use of home, meals)
The calculator adds back non-cash deductions (depreciation, depletion, business use of home, 50% of meals) to compute adjusted income
If income is declining year over year, the most recent year is used; otherwise a two-year average is calculated
Your qualifying monthly income and estimated max purchase price (at 45% DTI) are displayed