B3-3.1-10, Income Calculator (04/02/2025)

Fannie Mae offers use of the Income Calculator as an optional tool to assist lenders in calculating qualifying income. This tool can be used for loans underwritten manually or through DU.

The Income Calculator Findings Report can be used to satisfy the requirement for the lender to prepare a written analysis of their evaluation regarding the calculation of qualifying income, such as Fannie Mae's Cash Flow Analysis ( Form 1084), Comparative Income Analysis ( Form 1088) or a similar form. A copy of the Findings Report must be maintained in the loan file.

The lender can choose to use a Fannie Mae-approved technology service provider to extract data from tax returns and auto-populate the required fields within  Income Calculator.

When the amount of qualifying income being used by the lender is not more than the amount of income calculated by Income Calculator, enforcement relief from representations and warranties on the accuracy of the income calculation may be provided but lenders remain responsible for the accuracy of the information submitted. See Enforcement Relief of Representations and Warranties for Loans with Income Calculated by Income Calculator in  A2-2-04, Limited Waiver and Enforcement Relief of Representations and WarrantiesA2-2-04, Limited Waiver and Enforcement Relief of Representations and Warranties for additional details.

For loans that use the qualifying income amount calculated by  Income Calculator, the lender must also comply with the requirements in the following table.