Schedule C Income Optimized

Video Overview – Schedule C Income Calculations

Wondering how to maximum the accurate amount of income to qualify your independent contractor, sole proprietor, or single member LLC borrowers that use the schedule C to report income?  Today’s video goes over the Schedule C and C EZ tax forms and how to calculate the income based on FNMA/FHLMC conventional loan income guidelines.  We will complete a full review all of the lines that apply to mortgage underwriting such as depreciation and at home expenses and take a deeper look at some items on page two of the schedule C that many mortgage professionals overlook that could add hundreds if not thousands to your borrower’s qualifying income, changing your decline to approved.   Stop guessing what income would be acceptable to FNMA/FHLMC this video will help you understand all the guidelines outlined in FNMA Allregs section B3-3.2.1-04 and FHLMC Seller Servicer Guide volume 1 chapter 37 self-employed borrower.  After we take you through “the how of reviewing schedule C” we will also show you a tool in action that finally brings mortgage income calculations out of the 1990’s excel spreadsheet realm into the 21st century with our custom built software.

Enjoy the video, please feel free to leave you comments or questions for our team!

By |2017-12-27T14:51:52-04:00March 15th, 2015|Uncategorized|2 Comments

About the Author:

Michael Whitbeck
Michael is a subject matter expert on the process of mortgage underwriting. With 25 years in the mortgage business holding different positions in his career such as loan officer, underwriting manager, auditing supervisor, and chief credit officer. Through those experiences, he continually built content and systems to teach a process to improve people's underwriting skill set. Michael is the co-creator of UberWriter. UberWriter is the only online mortgage calculator that can determine any of the 30+ types of income listed in the agency guidelines. UberWriter has been a huge success in the market and half of the top 10 companies on the Scotsman Guide use UberWriter and produce thousands of income reports per month. Outside of the mortgage world Michael is a recreational pilot, loves Jeep adventures with his wife Jennifer. As a military veteran himself, he helps out with veterans organizations.


  1. Vijay January 10, 2017 at 3:03 AM - Reply

    This all information is very helpful for me and I want more information about credit report,Form 1040,and assets..

  2. Sweta June 29, 2015 at 5:47 PM - Reply

    It was very informative. Got clarification for so many questions. Thank you…

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