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Calculate monthly qualifying income for the following self-employed borrower based on the Schedule C information provided: 2016 2017 Gross Revenue $23,141 Gross Revenue $20,899 Depreciation
Calculate monthly qualifying income for the following self-employed borrower based on the Schedule C information provided: | ||||||||
2016 | 2017 | |||||||
Gross Revenue | $23,141 | Gross Revenue | $20,899 | |||||
Depreciation expense | $1,225 | Depreciation expense | $1,110 | |||||
All other expenses | $4,236 | All other expenses | $3,777 | |||||
Net Income | $17,680 | Net Income | $16,012 |
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In addition to the Schedule B totals from the tax returns what additional documentation would be required in order to utilize interest income to qualify? |
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