Qualifying income, the way underwriting calculates it.
Fannie Mae Form 1084 logic, multi-borrower, multi-business, with tax-return line hints, declining-income detection, and a confidence trail you can hand to UW. Stop guessing. Stop re-keying. Send the right pre-approval the first time.
Skip the re-keying. Drop in the PDF.
Upload a tax return, paystub, or bank statement. Income OCR pulls the qualifying numbers, cites the line each came from, and stages them for your review before anything touches the calculator. Privacy-preserving by design.
What it extracts
- Tax returns · 1040 wages + Schedule C net profit + Schedule E rentals + K-1 distributions + 1120S / 1065 / 1120 entity returns. Add-backs (depreciation, business-use home, mileage) parsed and labeled.
- Paystubs · YTD broken into regular, OT, commission, and bonus. Pay frequency detected (weekly / bi-weekly / semi-monthly / monthly).
- Bank statements · Beginning / ending balances, average daily balance, large-deposit flags for sourcing.
- Line citations · Every extracted number tags its source ("Schedule C, Line 31"). Audit trail for UW.
- Approval gate · Nothing pushes into the calculator until you click Approve.
How borrower data is handled
- Storage. PDFs land in your owner-scoped Firebase bucket. Encrypted at rest. Readable only by your authenticated account.
- OCR. Google Cloud Vision performs the OCR. Google-internal call. No retention beyond the response window.
- Sanitization. A server-side regex layer redacts SSN, EIN, full account numbers, routing numbers, driver license numbers, dates of birth, phone numbers, and emails. Borrower names + addresses are tokenized for restoration.
- Residual check. If any high-confidence PII pattern survives redaction, the call is refused before the AI sees anything.
- AI step. Anthropic Claude receives ONLY the sanitized text. No borrower PDFs. No raw OCR text. The tool schema explicitly excludes PII fields from the response.
- Audit trail. Every extraction logged with redaction counts and timing — disclosure-ready for Fannie Mae LL-2026-04.
See the full data-flow specification in the Data Processing Addendum, the AI/ML Use Disclaimer, and the AI Governance Policy.
Every income type. Every entity. One tool.
Multi-borrower files
Co-borrower? Three borrowers on a 1003? Add a tab per borrower. Each gets their own income streams, and totals roll up automatically.
Multi-business per borrower
Schedule C plus an S-Corp K-1 plus a rental? Stack as many businesses as the borrower owns. Each gets its own entity-aware form.
Five entity types for SE
Schedule C · Schedule E · 1120S · 1065 · 1120. Each with its own line-by-line input and entity-correct add-backs (no cross-contamination).
W-2, hourly, commission
Salary, hourly with avg hours, commission with VOE-style averaging. Plus DSCR for investment properties, qualifying off rents instead of income.
Tax-return line hints
Every input shows exactly which line on which form: "Schedule C, Line 31" · "1120S, Page 1, Line 21." No more flipping back to the return.
Declining-income detection
Y2 trending below Y1? The tool flags it, switches to most-recent-year only, and warns when the drop crosses 10%, exactly how UW reads it.
Lola explains every number
"Why did the home-office deduction get added back?" Click the line. Lola walks the agency rule and the form citation in plain English.
Agency-correct math
Fannie Form 1084 (2025). No meals exclusion. Mileage depreciation rate updates yearly. Manual entry on Line 48 amort/casualty so you don't double-count.
Hand to UW or Compare
One click drops the qualifying number into a Compare scenario or exports a clean PDF the underwriter can read. No re-typing.
From returns to qualifying income in minutes.
Add the borrower(s)
One tab per borrower. The tool keeps each person's income streams isolated so co-borrower math never bleeds across.
Pick the income type
W-2, Hourly, Commission, DSCR, or Self-Employed. SE branches into the five entity types. Pick once and the form re-renders to match.
Type from the return
Each input is labeled with its tax-return line. Two years of data drives the average. Y2 down? The tool tells you and switches to most-recent only.
Send it where it's going
Save to the file, push to Compare, export a PDF, or hand it to UW. The math is shown. Every add-back is auditable.
Built on the agency forms. Not a guess.
The Income Calculator follows Fannie Mae Form 1084 (2025 revision) for self-employed cash-flow analysis. That means the current Fannie standard: meals are not excluded (legacy rule retired), home-office and depreciation are added back, and Line 48 Part V amort/casualty entries are manual so you don't double-count Other Expenses.
For Schedule E rentals, depreciation, interest, taxes, insurance, and HOA flow back per Fannie B3-3.1-08. K-1 distributions on 1120S and 1065 follow ownership-percentage rules; C-Corp 1120 distributable cash flags low-ownership warnings.
Cross-references for FHA (4000.1 II.A.5), VA (Lender's Handbook Chapter 4), Freddie Mac (Section 5304 + Form 91), and USDA (HB-1-3555 Chapter 9) sit alongside the math. Pull them up live with Lola when an investor or scenario needs the alternate basis.
Manual is included. OCR is the add-on.
Every LoanIQ plan includes the full Income Calculator and Income OCR. Solo ($50/mo) gives 3 OCR scans/mo. Pro ($100/mo) gives 25 scans + AI Tools. Team ($375/mo for 5 LOs, +$75/seat) gives 150 pooled scans. Every plan starts with a 14-day free trial.