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Trying to qualify for an FHA loan? This calculator shows whether your income and debt fit within FHA guidelines - so you know what to expect before you apply.

Mortgage Income Calculator

Buying a home starts with knowing how much income you need to qualify. A Mortgage Income Calculator helps you estimate the salary required to afford a specific loan amount, based on factors like your interest rate, loan term, and monthly debts. It’s a quick way to see whether your budget aligns with your homeownership goals and what adjustments might make your dream home more attainable.

Income Calculator

Borrower 1
MONTHLY INCOME
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Borrower 2
MONTHLY INCOME
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COMBINED MONTHLY INCOME: $0.00

Debt to Income Ratio: 0%

Calculator 1

Year-to-Date Income Calculator
Income
Start
End
Monthly: -
Annual: -
Gross Monthly Income (Different Pay Frequencies)
Income
Frequency
Monthly: -
Annual: -
Hourly Rate Calculator
Rate
Hours/Week
Monthly: -
Annual: -
Income Average (Self Employment, Unemployment, etc.)
Income (1)
Income (2)
TOTAL
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Average by Months
Monthly Income
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Annual Income
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Gross-Up Calculations for Social Security/Pension
Net Monthly Income
Tax Rate (%)
Gross Income: -
Child Support Calculations
Income Type
Income
Percentage (%)
Monthly Support: -
Annual Support: -

Calculator 2

Year-to-Date Income Calculator
Income
Start
End
Monthly: -
Annual: -
Gross Monthly Income (Different Pay Frequencies)
Income
Frequency
Monthly: -
Annual: -
Hourly Rate Calculator
Rate
Hours/Week
Monthly: -
Annual: -
Income Average (Self Employment, Unemployment, etc.)
Income (1)
Income (2)
TOTAL
-
Average by Months
Monthly Income
-
Annual Income
-
Gross-Up Calculations for Social Security/Pension
Net Monthly Income
Tax Rate (%)
Gross Income: -
Child Support Calculations
Income Type
Income
Percentage (%)
Monthly Support: -
Annual Support: -

Understanding Nontaxable Income for Mortgage Calculations

What is Nontaxable Income?

Nontaxable income is money you receive that's exempt from federal taxes by law. When applying for a mortgage, lenders can "gross up" this income to reflect its true value since you don't pay taxes on it.

Common Types of Nontaxable Income

  • Adoption expense reimbursements (qualified)
  • Child support payments
  • Disability benefits
  • Qualified settlement income
  • Gifts or inheritances
  • Physical injury/sickness damage awards
  • Qualified Medicaid waiver payments
  • Cash rebates from dealers/manufacturers
  • Social Security benefits
  • And many others (see IRS Publication 525)

Gross Up Income Calculator by Loan Type

Loan Type Gross Up Percentage Example Calculation
Conventional 25% $1,000 → $1,250
FHA 15% (or appropriate tax rate) $1,000 → $1,150
USDA 25% $1,000 → $1,250
VA 25% $1,000 → $1,250

How It Works

Example: If you receive $1,000/month in Social Security benefits:

  • Conventional/USDA/VA loans: $1,000 × 1.25 = $1,250 qualifying income
  • FHA loans: $1,000 × 1.15 = $1,150 qualifying income

Why This Matters

Grossing up nontaxable income can:

  • Increase your mortgage pre-approval amount
  • Lower your debt-to-income ratio
  • Improve your loan approval odds
  • Help you qualify for a larger home purchase

Important: Income must be verified and expected to continue for at least 3 years (with some exceptions). Lenders will require documentation to confirm the nontaxable status and continuity of these income sources.

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