Appendix Q to Part 1026 — Standards for Determining Monthly Debt and Income
For qualifying purposes, “part-time” income refers to employment taken to supplement the consumer's income
- 1026 (Regulation Z)
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For qualifying purposes, “part-time” income refers to employment taken to supplement the consumer's income
Both depreciation and depletion may be added back to the income in proportion to the consumer's share
If the consumer is receiving the subsidy directly, the amount received is treated as income.
primary liability on an obligation, § 1026.43(c)(2)(i) does not require the creditor to consider income
empirically derived, demonstrably and statistically sound model that reasonably estimates a consumer's income
Information regarding income and assets for young consumers.
The rental income may be considered effective if shown on the consumer's tax return.
Establishing an Overtime and Bonus Income Earning Trend.
Income Analysis: Individual Tax Returns (IRS Form 1040).
Income Analysis: Corporate Tax Returns (IRS Form 1120).
Income Analysis: Partnership Tax Returns (IRS Form 1065).
Debt to Income Ratio Computation for Recurring Obligations.
Income or assets generally.
Loss-of-income insurance.
Document the likelihood that the income will continue, and
Unreimbursed business expenses must be subtracted from gross income.
Qualifying Commission Income Earned for Less Than One Year.
General Information on Self-Employed Consumers and Income Analysis.
Income Analysis: “S” Corporation Tax Returns (IRS Form 1120S).
Current or reasonably expected income includes, for example, current or expected salary, wages, bonus
Commission income earned for less than one year is not considered effective income.
This policy assures that a consumer either has sufficient income to make both mortgage payments without
Reasonably expected income.
Consideration of income and assets. For purposes of § 1026.51(a):
Alimony, child support, or maintenance income may be considered effective, if: