Passive income can come from a wide range of sources. Social Security, retirement distributions, investment income, royalties, and support payments all fall into this category.

Some of these do not feel passive at all. Social Security is a good example. It represents years of work and contributions. Regardless of how it is labeled, it is treated under the same set of rules as other non-employment income.

Finishing the Self-Employment Series: C-Corp Income Made Clear for Mortgage Qualification

S-Corp Income: What Counts for Your Qualifying Income and What Doesn’t

If you own a partnership, determining which income counts towards a mortgage can be confusing. In this article, I’ll walk you through how mortgage underwriters determine qualifying income from partnerships. I’ll show you how to use your K-1 and the partnership’s 1065 tax return, with a practical example, so you can see exactly how it works.

How Mortgage Underwriters Determine Qualifying Income From Your 1040 Schedule C.

We’re breaking down the different types of businesses and the documents lenders need so you can see exactly what counts as income.

How Underwriters Evaluate Part-Time Jobs, Seasonal Work, and Side Gigs for Mortgage Qualification

Income Basics: How Lenders Calculate Your Qualifying Income for a Mortgage Part Two

Over the past few weeks, we’ve talked about credit, liabilities, debt-to-income, and assets.

Now, we’re moving into one of the most important, and often confusing, parts of getting a mortgage: income calculation.