Fannie Mae has scheduled a conference call to discuss the company's results at 8:00 a. Non-liquid assets do not have to be verified, and will not be identified in a verification message. To calculate asset depletion income for Fannie Mae, you will need to follow these steps: 1. Social Security, VA, or other government retirement or annuity. Launch Ask Poli for Sellers . Servicers must refer to Section 9202. The following table provides the requirements for employment-related assets that may be used as qualifying income. The lender must obtain. Chapter 4, Section E HUD 4155. Guide Resources. 2-06, Fannie Mae Flex. Standard Fannie Mae. the amount and duration of the borrower's “temporary leave income,” which may require multiple documents or sources depending on the type and duration of the leave period; and. Lender may use the AMI limits for purposes of determining income eligibility for RefiNow, HomeReady or other loans that have AMI requirements. Chapter B3-1: Manual Underwriting. Lender must document 3–year continuance. Effective June 12, 2023, the 2023 area median income estimates (AMIs) will be implemented in Desktop Underwriter ® (DU ® ), HomeReady ® Application Programming Interfaces (API), Loan Delivery, the Area Median Income Lookup Tool, and published on the HomeReady ®, RefiNow ®, and Duty to. 1-09, Other Sources of Income. an IRS 1099 form. See the applicable section below for information on Social Security income. Tip income can be verified using a Request for Verification of Employment (Form 1005 or Form 1005 (S)), or recent paystubs and IRS W-2 forms. In some cases, Fannie Mae may require additional. Vested assets in the form of stocks, government bonds, and mutual funds are acceptable sources of funds for the down payment, closing costs, and reserves provided their value can be verified. Guide Resources. Fannie Mae has learned of a consumer fraud scam involving a person who claims to be a Fannie Mae employee contacting people offering to modify their mortgage and requesting money or gift cards. First payment date: July 1. 1 $8. d. Refer to the applicable topics in Chapter B3-3, Income Assessment for additional information about specific tax return requirements. The lender must obtain. Employment-Related Assets as Qualifying Income. The yielding figure is the qualified monthly income. part of the credit review process, or. Income documentation as outlined in Form 710 based on income type. 1 The risk profile of this loan casefile appears to meet Fannie Mae's guidelines. an IRS 1099 form. These annuities are. is employed by family members (two years’ returns); is employed by interested parties to the property sale or purchase (two years’ returns); Items required for a complete BRP : Form 710, or equivalent, that is completed in its entirety. 3-01, Fannie Mae Short Sale. Fannie Mae does not set a minimum remaining term requirement at the time of loan purchase. 2-06, Fannie Mae Flex. Tip Income Fannie Mae allows tip income to be included in qualifying income if the lender can verify that the borrower has received the income for the last two years. Fannie Mae may revoke these limited permissions by written notice to any or all Fannie Mae-approved users. What are the income eligibility requirements for HomeReady borrowers? Effective July 20, 2019, the income limit for all HomeReady loans is 80% of area median income (AMI) for the property’s location, including properties in low-income census tracts. Participants may join the conference call in listen-only mode via the webcast link below. For manually underwritten loans, the income from a non-occupant borrower may be considered as acceptable qualifying income. Assets used for the calculation of the monthly income stream must be owned individually by the borrower, or the co-owner of the assets must be a co-borrower of the. The primary beneficiary of the trust must be the individual (s) establishing the trust. Income property, 75 percent. A borrower applies for a $500,000 mortgage at their local bank to buy a home they have under contract to purchase for $550,000. These can include various sources such as child support, alimony, social security income, VA benefits, interest income, 401K/pension income, or any other documented income that is deemed non-taxable. Multiply the amount of the monthly net income by 1. The DU validation service offers lenders an opportunity to deliver loans with more certainty. Determining the Need for Federal Income Tax Returns. Chapter B3-2: Desktop Underwriter (DU) Chapter B3-3: Income Assessment. An annuity due is a type of annuity that is commonly used in personal finance and investing. This applies for a one-unit property in an amount up to 30% of the total gross income that is used to qualify the borrower for the mortgage if the boarder. Lender must document 3–year continuance. 1 The risk profile of this loan casefile appear s to meet Fannie Mae's guidelines. DU will require the following: a completed Request for Verification of Employment (Form 1005), the borrower's recent paystub and IRS W-2 forms covering the most recent one-year period, or. 9 Billion for 2022 and $1. If the property has resale restrictions, see B 5-5. The employment offer must clearly state the borrower has fixed base income (e. See B3-3. Guidance for documenting access to income and business liquidity If the Schedule K-1 reflects a documented, stable history of receiving cash distributions of income from the business consistent with the level of business income being used to qualify, then no further documentation of access to. Chapter B3-1: Manual Underwriting. alimony, child support, or separate maintenance. Other income sources can include annuities, distributions from retirement savings plans, and other government retirement benefits. Lenders are responsible for making the final determination of whether the borrower’s specific income source has a defined expiration date. financial markets. For more information, see B3-3. Immediate annuities are taxed as income when payments are received, while deferred annuities offer tax-deferred growth during the accumulation phase. If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources. 3-13 , and Selling Guide section B5-6-02. HomeReady permits lower credit scores. The borrower's monthly gross income is defined as the borrower's monthly income amount before any payroll deductions and includes the following items, as. Base Pay (Salary or Hourly) Income. Calculating the Borrower’s Housing Expense-to-Income Ratio. Approximately 78% of our participants preferred to pay $100,000 for lifelong cash payments immediately at retirement than to pay. Total verified liquid assets: $30,000. regulator responsible for overseeing Fannie Mae and Freddie Mac, issued the Duty to Serve UnderservedAn annuity is a contract between an individual and an insurance company, wherein the individual invests a sum of money in exchange for a series of periodic payments. Financing Concession . The payments from an ordinary annuity can be fixed or variable, and it has the potential to generate compound interest and. . Lender must document 3–year continuance. Total verified liquid assets: $30,000. a copy of signed federal income tax return, an IRS W-2 form, or. DU loan casefiles: DU will determine the reserve requirements based on the following: Two months’ reserves for a second home transaction. self-employment income. The December Selling Guide update expands eligibility to allow the sale of loans secured by single-width manufactured homes; updates requirements related to the use of retirement, government annuity, and pension income; modifies our seller/servicer eligibility standards related. Depository Assets. a copy of signed federal income tax return, an IRS W-2 form, or. Base Pay (Salary or Hourly) Income. Please take a few minutes to watch a short training video. Employment Documentation Provided by the Borrower’s Employer. "Fannie Mae Reports Net Income of $12. These annuities provide investors with the opportunity to generate returns based on the performance of underlying investments, while also providing a guaranteed income stream during retirement. Fannie Mae’s underwriting guidelines emphasize the continuity of a borrower’s stable income. Contact your account team or call 1-800-2FANNIE (1-800-232-6643)and press option 1 for technology support. All of the following loan parameters must be met in order for employment-related assets to be used as qualifying income: Loan Parameter. This feature guarantees the annuity owner a minimum income stream, regardless of market conditions, by allowing them to withdraw a fixed percentage of their investment each year without depleting the principal. The servicer must determine the borrower’s housing expense-to-income ratio as outlined in Evaluating a Borrower’s Ability to Make a Cash Contribution in D2-3. Fannie Mae Manufactured Community Housing Loan . Requirement. . 501. 9 $2. If income from a government annuity or pension account will begin on or before the first payment date, document the income with a benefit statement from the organization providing the income. The total qualifying income that results may not exceed the borrower's regular. c. You'll need proof of income, such as pay stubs or tax returns, proof of assets, credit history, and more. By ensuring payments until the last surviving annuitant passes away, these annuities offer financial security and peace of mind for the surviving spouse. The lender must assess repayment or additional obligation considerations to determine the impact. Fannie Mae’s underwriting guidelines emphasize the continuity of a borrower’s stable income. Income payments from deferred annuities are also taxed as income when received. Fannie Mae considers sweat equity an acceptable source of funds for HomeReady loans when the borrower participates in an affordable housing purchase program run by an eligible. Annuity Income. ). Ask Poli is an Artificial Intelligence powered search tool. 1 $2. The Servicer must gross up all net income when the Borrower submits bank statements to support the income type. The following table provides verification requirements for retirement, government annuity, and pension income. 1-09, Other Sources of Income, for boarder income requirements, and B5-6-02,. part-time job, second job, or seasonal income. To learn more about income continuance or to discuss your homebuying and mortgage financing options, contact our team by phone at (855)855-4491 or by email at jvmteam@jvmlending. Stable and Predictable Income. Chapter B3-4: Asset Assessment. mortgage credit certificates. Yes. Freddie Mac Form 65 • Fannie Mae Form 1003 URLA Effective 1/2021• Instructions Revised 10/2022 1e. (Hourly gross pay x average # of hours worked per week x 52 weeks) / 12 months. Fannie Mae. Are a first-time homebuyer. To be eligible as a HomeReady mortgage, the total annual qualifying income may not exceed 80% of the AMI for the property’s location. PART B Origination thru Closing. Standard Freddie Mac. Purchased through an insurance company or financial institution, income annuities offer guaranteed payments over a specific period or for life. c. Total verified liquid assets: $30,000. mortgage credit certificates. Fannie Mae on Wednesday released its October 2023 update to its Selling Guide, aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy. Annuity payout options determine how and when the funds invested in an annuity contract are paid out to the annuity holder. , guaranteed 40 hours/week). HomeReady. Hourly. (Hourly gross pay x average # of hours worked per week x 52 weeks) / 12 months. Each ARM plan must offer lifetime and per. Annuity Income Watch Me! Annuity & Retirement Distribution Answer Me! Foundations On-Demand NOT YOUR ORDINARY INCOME 13 Notes: Watch Me! Annuity & Retirement DistributionConclusion. The inter vivos revocable trust must be established by one or more natural persons, solely or jointly. If income from a government annuity or a pension account will begin on or before the first payment date, document the income with a benefit statement from the organization. 1-09, Other Sources of Income, for boarder income requirements, and B5-6-02,. Monthly Income (Sort ID 291) is to be delivered with the combined qualifying gross monthly income of all borrowers. Approximately 78% of our participants preferred to pay $100,000 for lifelong cash payments immediately at retirement than to pay. While every effort has been made to ensure the reliability of the content in Ask Poli, Fannie Mae's Selling Guide and its updates, including Guide Announcements and Release Notes, are the official statements of Fannie Mae's policies and procedures, and should be complied with in the event of. the amount and duration of the borrower's “temporary leave income,” which may require multiple documents or sources depending on the type and duration of the leave period; and. While Fannie Mae does not have a stated age minimum for a borrower to use retirement income to qualify, a borrower must have unrestricted access without penalty to use income from certain types of retirement accounts, such as a 401 (K), IRA or Keogh account (which may have a minimum age requirement to have "unrestricted access"). To be eligible as a HomeReady mortgage, the total annual qualifying income may not exceed 80% of the AMI for the property’s location. Fannie Mae’s underwriting guidelines emphasize the continuity of a borrower’s stable income. Calculating Income 23 Fannie Mae Selling Guide. 1-02, Standards for Employment Documentation and B3-3. 70%. 1, Employment and Other Sources of Income. DU does not consider the amount of non-liquid assets. Annually or for any specified period, the total Effective Gross IncomeEffective Gross IncomeOn an annual basis or any specified period, the total of Net Rental Income plus other income per Part II, Chapter 2: Valuation and Income, Section 202: Income Analysis and the applicable products and features in Part III. The servicer must determine the borrower's new modified mortgage loan terms in accordance with Determining the Fannie Mae Flex Modification Terms in D2-3. g. If income from a government annuity or a pension account will begin on or before the first payment date, document the income with a benefit statement from the organization providing the income. The lender must verify the borrower's income in accordance with Section B3–3. 1 $1. If the borrower will have seven to ten financed properties, the mortgage loan must. They call this practice “grossing up” income because you. Retirement, Government Annuity, and Pension Income. Minor (non-substantive) wording, number, and heading changes are not marked. General Information. Note: Ask Poli is an Artificial Intelligence powered search tool. Verify that the income can be expected to continue for a minimum of three years from the date of the mortgage application. 101, Appendix. Top Lender Questions on Federal Income Tax Returns, Installment Agreements, and Transcripts . The cash flow analysis can only consider the borrower’s share of the business income or loss, taking into consideration adjustments to business income. Unless the lender has knowledge to the contrary, if the income does not have a defined expiration date and the applicable history of receipt of the income is documented (per. rental income. 1 $3. current receipt of trust income with one month’s bank statement or other equivalent document. 4 for additional information about income calculation requirements and guidance. Fannie Mae permits lenders to request specific or limited documentation from the IRS when submitting a request with the borrower’s consent on IRS Form 4506-C (such as requesting only the transcript for forms W2 or 1099), rather than always requiring the full transcript of the borrower’s personal income tax return (aka Form 1040). Requirement. This service is provided for the sole purpose of showing the applicable Area Median Income (AMI) for each applicable census tract. 02 B Business Income (including Rental Value) Insurance. Twice monthly gross pay x 2 pay periods. Credit documents include credit reports and employment, income, and asset documentation. Temporary leave income: $2,000 per month. Explore Tools and Information to Help with Your Housing Journey. Fannie Mae and Freddie Mac offer a variety of coverage options. Weekly. the lender must evaluate it according to Fannie Mae’s guidelines for income received from a partnership or an S corporation. The following table provides verification requirements for notes receivable income. 501. The amount of funds that will be used for down payment, closing costs. In some cases, Fannie Mae may require additional. Temporary leave income: $2,000 per month. Retirement, Government Annuity, and Pension Income • Fannie DU – letter from organization, award letter, tax returns, W2 or 1099 OR proof of currentFannie Mae purchases and securitizes mortgages to non-citizens who are lawful permanent or non-permanent residents of the United States under the same terms available to U. If income from a government annuity or a pension account will begin on or before the first payment date, document the income with a benefit statement from the organization. Fannie Mae has scheduled a conference call to discuss the company's results today at 8:00 a. Form 1007 or Form 1025, as applicable, and either. Beware of scamsHave less than 20% to put down on your home. need to obtain the final 2018 year-to-date paystub to accurately calculate income. checking or savings accounts; investments in stocks, bonds, mutual funds, certificates of deposit, money market funds, and trust accounts; the amount vested in a retirement savings account; and. All other paystub requirements remain unchanged. 9 $9. “Freddie Mac and Fannie Mae have adopted a new refinance option for loans to borrowers with incomes at or below 100% of Area Median Income and you may be eligible to take advantage of this program. Temporary Leave Income. Document the following: a minimum 24-month history of trust income by obtaining copies of the borrower’s signed federal income tax returns for the most recent two years, and. Refer to the Variable Income section of B3-3. Fannie Mae and Freddie Mac offer a variety of coverage options. 1-01, General Income Information (08/07/2019) CONFIDENTIAL Calculating Income 25 Documentation Fannie Mae Selling Guide Check For Investor Overlays For Timing Of Verbal VOEOpting for a lottery annuity provides several advantages, including a guaranteed income stream and reduced tax burden. We’ve been listening to your feedback and are excited to share the newest version of the Single-Family Seller/Servicer Guide. Underwriting Borrowers. one monthly statement (30 days of account activity) for all limited cash. The statement must specify the income type, amount. The stable and reliable flow of income is a key consideration in mortgage loan underwriting. Depository Assets. If the actual amount of federal and state taxes that would generally. The lender must verify employment income for all borrowers whose income is used to qualify for the mortgage loan. (M SG ID 0 0 08). Regular income amount: $6,000 per month. Examples of income types without a defined expiration date. the amount and duration of the borrower's “temporary leave income,” which may require multiple documents or sources depending on the type and duration of the leave period; and. Fannie Mae Guidelines Updates On Income Requirements. Retirement income must be verified from the former employer, or from Federal tax returns. To gross up net income, the Servicer must: Establish the Borrower’s monthly net income in accordance with this Section 9202. For mortgages originated for sale to the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation. If the asset (s) is jointly owned, all owners. monthly income from annuities, insurance policies, retirement funds, pensions, disability or death benefits, rental. A borrower of a mortgage loan secured by a principal residence or second home may use funds received as a personal gift from an acceptable donor. Total verified liquid assets: $30,000. However, Fannie Mae does allow certain exceptions to this policy for boarder income and properties with accessory units. While every effort has been made to ensure the reliability of the content in Ask Poli, Fannie Mae's Selling Guide and its updates, including Guide Announcements and Release Notes, are the official statements of Fannie Mae's policies and procedures, and should be complied with in the event of discrepancies between information provided. This is the denominator of the loan's Debt-to-Income Ratio. This topic contains general information for income, including: Stable and Predictable Income. Example. 01. Learn more about calculating your DTI ratio. Develop an average of the income received for the most recent two years. The lender must verify the borrower's income in accordance with Section B3–3. Subpart B3: Underwriting Borrowers. Funds needed to complete the. a copy of retirement award letter or benefit statement, a copy of financial or bank account statement, a copy of signed federal income tax return, an IRS W-2 form, or. monthly income from annuities, insurance policies, retirement funds, pensions, disability or death benefits, rental income, and other income such as adoption assistance. 1, Employment and Other Sources of Income. Retirement, Government Annuity, and Pension Income . $1. For more information, see B3-3. Note: Changes since the last update are marked either NEW or UPDATED. If the actual amount of federal and state taxes that would generally be. Document the following: a minimum 24-month history of trust income by obtaining copies of the borrower’s signed federal income tax returns for the most recent two years, and. Freddie Mac Form 65 • Fannie Mae Form 1003 URLA Effective 9/2020 • Instructions Revised 3/2020 1b. (opens in new window)Can employment-related assets be used for both income and asset calculations? Only the assets that are not used in the calculation of the monthly income stream may be considered as available funds when determining sufficient funds to close and/or financial reserve requirements. S. If income from a government annuity or pension account will begin on or before the first payment date. Debt -to-Income Ratio 30. the borrower's recent Leave and Earnings Statement (LES) for military income and entitlements. 25% Fannie. It promotes financial stability, protects against overspending, and enables long-term financial planning. Social Security, VA, or other government retirement or annuity. CONFIDENTIAL Fannie Mae Selling Guide Continuance of Income Calculating Income 24 See B3-3. 1-01, General Income Information), and use the averaged amount as part of the borrower’s qualifying income as long as the borrower provides current evidence that they own additional property or assets that can be sold if extra income is needed. The servicer must determine the borrower’s housing expense-to-income ratio as outlined in Evaluating a Borrower’s Ability to Make a Cash Contribution in D2-3. For manually underwritten loans, Fannie Mae’s maximum total DTI ratio is 36% of the borrower’s stable monthly income. 1 $11. Maximum LTV, CLTV, and HCLTV Ratio. Documentation Requirements. This. Points and Fees Limitations. Whether you’re just thinking about buying a home or have already started shopping, Fannie Mae offers expert guidance and insight into the homebuying process, your mortgage options, and what to expect along the way. Fannie Mae accepts a maximum of 36% ratio between total monthly income to total debt. m. For additional information, see B3-3. Annuity Income Watch Me! Annuity & Retirement Distribution Answer Me! Foundations On-Demand NOT YOUR ORDINARY INCOME 13 Notes: Watch Me! Annuity & Retirement DistributionConclusion. NOTE: Income must be reported to Fannie Mae for all high LTV refinance loans. the amount and duration of the borrower's “temporary leave income,” which may require multiple documents or sources depending on the type and duration of the leave period; and. S. Non-taxable income refers to earnings that are exempt from income taxes. 50% Loan Term 180. For loan casefiles underwritten through DU, the maximum allowable DTI ratio is. 5. Stable and Predictable Income. There may be more coverage offerings. Single-Family Division. The payments from an ordinary annuity can be fixed or variable, and it has the potential to generate compound interest and. Develop an average income from the last two years (according to the Variable Income section of B3-3. (DU®), Loan Delivery, and the Area Median Income Lookup Tool over the weekend of June 10, 2023, with an effective date of June 12, 2023. Fannie Mae Gift of Equity . The lender must verify the borrower's income in accordance with Section B3–3. For borrowers who have less than 25% ownership of a partnership, S corporation, or limited liability company (LLC), ordinary income, net rental real estate income, and other net rental income reported on IRS Form 1065 or IRS Form 1120S, Schedule K-1 may be used in qualifying the borrower provided the lender can. 02 C Ordinance or Law Insurance. Note: The tax-exempt nature of some of the above payments should also be considered. 1 The risk profile of this loan casefile appears to meet Fannie Mae's guidelines. If income from a government annuity or a pension account will begin on or before the first payment date, document the income with a benefit statement from the organization. Fannie Mae Home Price Index . Sign-In Seller/Servicer ID Business Role: Looking for the servicing policy? Not a customer?. 4 Billion for Fourth Quarter 2022. 25 to determine the Borrower’s monthly gross. Guide Resources. However, Fannie Mae does allow certain exceptions to this policy for boarder income and properties with accessory units. current receipt of trust income with one month’s bank statement or other equivalent document. WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced plans to report its second quarter 2023 financial results on Tuesday morning, August 1, 2023, before the opening of U. When a loan casefile receives an Approve/Ineligible recommendation, the lender should: Review the DU loan data for accuracy and verify that all income, assets, and liabilities were accurately recorded and fully disclosed by the borrower. Refer to the applicable topics in Chapter B3-3, Income Assessment for additional information about specific tax return requirements. Which statement most accurately describes the role and function of Ginnie Mae in the secondary mortgage market. Web. When you purchase an annuity, you can choose from several payout. Chapter B3-4: Asset Assessment. 1-09, Other Sources of Income. Net proceeds from a loan against the cash value or from the surrender of a life insurance policy are an acceptable source of funds for the down payment, closing costs, and reserves. a cash-out refinance transaction with a DTI ratio greater than 45%. Citizen Borrowers. ) (-) $50,000. All income that is calculated by an averaging method must be reviewed to assess the borrower’s history of receipt, the frequency of payment, and the trending of the amount of income being received. This is the total amount of eligible assets minus the following: The amount of any penalties that would apply if the assets were distributed early. If the income is verified to be nontaxable, and the income and its tax-exempt status are likely to continue, the lender may develop an “adjusted gross income” for the borrower by adding an amount equivalent to 25% of the nontaxable income to the borrower’s income. 49% Total Loan Amount $205,0 0 0. checking or savings accounts; investments in stocks, bonds, mutual funds, certificates of deposit, money market funds, and trust accounts; the amount vested in a retirement savings account; and. Servicers must refer to Section 9202. 16 Document retirement, government annuity, or pension income for Alice Firstimer with one of the following documents: letters from the organization providing the income, retirement. These limits vary based on location and property size. Carlos T. Tax returns are required if the borrower. The Fannie Mae guidelines allow borrowers to use retirement income, such as pensions, Social Security benefits, and distributions from retirement accounts like 401 (k)s or IRAs, for mortgage qualification. a copy of signed federal income tax return, an IRS W-2 form, or. If I have a question on how to document income, I Google “Fannie Mae requirement for…” or “Freddie Mac Doc Matrix”. Launch Ask Poli for Sellers . 1-09, Other Sources of Income . , ET,. Chapter B3-2: Desktop Underwriter (DU) Chapter B3-3: Income Assessment. Exceptions are specified in B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report . Determining. Updated: 05/03/2023. If the borrower will return to work as of the first mortgage payment date, the. DU considers the following assets non-liquid assets: Cash Deposit on Sales, Net Worth of Business, Other Non-Liquid Asset, and Unsecured Borrowed Funds. Inflation -adjusted annuities are typically offered by. one monthly statement (30 days of account activity) for all limited cash. the amount and duration of the borrower's “temporary leave income,” which may require multiple documents or sources depending on the type and duration of the leave period; and. 1, Employment and Other Sources of Income. a copy of signed federal income tax return, an IRS W-2 form, or ; an IRS 1099 form. Variable Income. DU will require the following: a completed Request for Verification of Employment (Form 1005), the borrower's recent paystub and IRS W-2 forms covering the most recent one-year period, or. Down payment. Freddie Mac Form 65 • Fannie Mae Form 1003 URLA Effective 1/2021• Instructions Revised 10/2022 1e. For example, if you receive $4,000 a month from fixed income sources and your debt and recurring payments equal $1,000, your DTI ratio is 25%. an IRS 1099 form. The initial adjustment period in months must align with the initial fixed-rate period in years. All of the above calculations must be compared with the documented year-to-date base earnings (and past year earnings, if applicable) to. Fannie Mae is updating this guidance to require that for Fannie Mae HAMP modifications, the servicer develop an “adjusted gross income” for. Example. If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible toYou can calculate your DTI ratio by dividing your recurring minimum expenses by your total monthly income. The following table provides the requirements for employment-related assets that may be used as qualifying income. 1-09, Other Sources of Income. mortgage credit certificates. Subpart B1: Loan Application Package. Fannie Mae customers! Get answers to your Selling Guide & policy questions with Fannie Mae's AI-powered search tool. For additional information, see B3-3. an IRS 1099 form.