Self-Employed Income Worksheet for Mortgage Applications: Excel 2-Year Schedule C Income Average, Document Checklist + YTD Profit & Loss Template

Self-employed buyers often find out late that their qualifying income is much lower than what they deposit, because lenders usually start from the tax return. This worksheet helps you see the picture early. The Excel tool totals two years of Schedule C net profit plus common add-backs, then shows a two-year monthly average and the trend. The printable pages explain how self-employed income is usually reviewed and include a document checklist, questions for your loan officer and a year-to-date profit and loss template.

What's inside:

- How self-employed income is usually reviewed

- Document checklist and questions

- Paper Schedule C worksheet

- Year-to-date profit and loss template

- Excel two-year income average

Good to know:

- Educational only and not tax advice. Your lender's calculation is the one that counts.

Aaron Clark, Licensed Mortgage Loan Officer, NMLS #1770738 · www.nmlsconsumeraccess.org · Equal Housing Opportunity

Educational only, not a loan offer or rate quote; example numbers are illustrations.