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Schedule C Partnership 1065 S Corp 1120S Corporation 1120 Variable Income Rental Income SSIPension Gross Up

Self-Employed Schedule C Borrower

For borrowers that claim self-employment income on Schedule C.

Is the borrower qualifying with one or two years of returns?

Returns from 2 Years Ago ()

Net Profit (31):

$

Non-Recurring Income (6):

$

Depletion/Depreciation (12&13):

$

Meals/Entertainment (24b):

$

Business Use of Home (30):

$

Vehicle Miles (Actual Miles):

$

Monthly Income: $0.00

Returns from Most Recent Year ()

Net Profit (31):

$

Non-Recurring Income (6):

$

Depletion/Depreciation (12&13):

$

Meals/Entertainment (24b):

$

Business Use of Home (30):

$

Vehicle Miles (Actual Miles):

$

Monthly Income: $0.00

Income is declining.

24 Months Average: $0.00

Self-Employed Partnership 1065 Borrower

For borrowers that claim self-employment income on Form 1065.

Is the borrower qualifying with one or two years of returns?

Is the borrower able to prove liquidity?

Returns from 2 Years Ago ()

W2 Income (Box 5):

$

Percentage of Ownership (K1 J):

%

K-1 Income (1-3):

$

Distributions (K1 Box 19):

$

Guaranteed Payments* (K1 Box 4):

$

Other Ordinary Income (Line 4):

$

Nonrecurring Other Income (Line 7):

$

Depreciation (Line 16c):

$

Depletion (Line17):

$

Mortgages, Notes, Bonds < 1 Year (L Line 16):

$

Travel and Entertainment (M1 Line 4b):

$

Amortization:

$

Monthly Income: $0.00

Returns from Most Recent Year ()

W2 Income (Box 5):

$

Percentage of Ownership (K1 J):

%

K-1 Income (1-3):

$

Distributions (K1 Box 19):

$

Guaranteed Payments* (K1 Box 4):

$

Other Ordinary Income (Line 4):

$

Nonrecurring Other Income (Line 7):

$

Depreciation (Line 16c):

$

Depletion (Line17):

$

Mortgages, Notes, Bonds < 1 Year (L Line 16):

$

Travel and Entertainment (M1 Line 4b):

$

Amortization:

$

Monthly Income: $0.00

Income is declining.

24 Months Average: $0.00

*DU loans require a 2 year history to add in guaranteed payments from the partnership. LP loans allow for guaranteed payments to be utilized without a two-year history.

Self-Employed S Corp 1120S Borrower

For borrowers that claim self-employment income on Form 1120S.

Is the borrower qualifying with one or two years of returns?

Is the borrower able to prove liquidity?

Returns from 2 Years Ago ()

W2 Income (Box 5):

$

Percentage of Ownership (K1 G):

%

K-1 Income (1-3):

$

Distributions (K1 Box 16d):

$

Nonrecurring Other Income (Line 5):

$

Depreciation (Line 14):

$

Depletion (Line 15):

$

Mortgages, Notes, Bonds < 1 Year (L Line 17):

$

Travel and Entertainment (M1 Line 3b):

$

Amortization:

$

Monthly Income: $0.00

Returns from Most Recent Year ()

W2 Income (Box 5):

$

Percentage of Ownership (K1 G):

%

K-1 Income (1-3):

$

Distributions (K1 Box 16d):

$

Nonrecurring Other Income (Line 5):

$

Depreciation (Line 14):

$

Depletion (Line 15):

$

Mortgages, Notes, Bonds < 1 Year (L Line 17):

$

Travel and Entertainment (M1 Line 3b):

$

Amortization:

$

Monthly Income: $0.00

Income is declining.

24 Months Average: $0.00

Self-Employed Corporation 1120 Borrower

For borrowers that claim self-employment income on Form 1120.

Is the borrower qualifying with one or two years of returns?

Returns from 2 Years Ago ()

W2 Income (Box 5):

$

Percentage of Ownership:

%

Nonrecurring Gains (Lines 8 & 9):

$

Nonrecurring Other Income (Line 10):

$

Depreciation (Line 20):

$

Depletion (Line 21):

$

Net Operating Loss (Line 29a):

$

Taxable Income (Line 30):

$

Total Tax (Line 31):

$

Mortgages, Notes, Bonds < 1 Year (L Line 17):

$

Travel and Entertainment (M1 Line 5c):

$

Amortization:

$

Monthly Income: $0.00

Returns from Most Recent Year ()

W2 Income (Box 5):

$

Percentage of Ownership:

%

Nonrecurring Gains (Lines 8 & 9):

$

Nonrecurring Other Income (Line 10):

$

Depreciation (Line 20):

$

Depletion (Line 21):

$

Net Operating Loss (Line 29a):

$

Taxable Income (Line 30):

$

Total Tax (Line 31):

$

Mortgages, Notes, Bonds < 1 Year (L Line 17):

$

Travel and Entertainment (M1 Line 5c):

$

Amortization:

$

Monthly Income: $0.00

Income is declining.

24 Months Average: $0.00

For a DU loan, business income can only be given if the borrower owns 100% of the business. For LPA loans, business income can be given if the borrower owns 25% or more of the business.

Variable Income

2 Years Ago	Last Year	YTD	Trend	2yr Average	Last Yr + YTD	YTD Average
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00
$	$	$	-	$0.00	$0.00	$0.00

Rental Income

Does the most recent year of 1040 returns show rental income?

Are the taxes and insurance for the property escrowed?

What is the total mortgage payment including taxes and insurance?

$

Total Rents Received (Line 3):

$

Insurance (Line 9):

$

Mortgage Interest Paid (Line 12):

$

Taxes (Line 16):

$

Depreciation/Depletion (Line 18):

$

HOA Dues (Yearly):

$

One Time Extraordinary Expense:

$

Total Expenses:

$

Monthly Income: $0.00

Rental Income

Are We Using a 1099 or Award Letter?

What is the total of Gross Pay? (Box 3 if SSI, Box 1 if Pension.)

$

On your tax return, what is the total of box 6B

$

FHA $0.00

VA $0.00

Conv $0.00

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Office: 281-279-8775 Ext. 800

Mobile: 708-214-7411

Location

: 13121 Louetta Rd. #2007 Cypress TX. 77429

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First Lane Home Loans

Mike Fapohunda, First Lane Home Loans

NMLS# - NMLS#2530213

NEXA Mortgage LLC is an Equal Housing Lender

Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov.

A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov