Analyzing Schedule E Rental Income
If you are newer to calculating rental income or a seasoned pro looking for a fresher, this session will provide you with a laser focused review of rental income as it applies to a mortgage approval.
In this session you will learn to:
• Understand the basic industry guidelines for calculating income and expenses when it derives from rental income
• Calculate rental income using the Schedule E of the Personal Tax Returns
• Utilize the FNMA Rental Income Worksheets - Form 1037 for Principal Residence or 2-4 unit properties, Form 1038 for Investment Property(s), and Form 1039 for Investment Property(s) owned by a Business Entity to calculate monthly rental income to use in a mortgage transaction