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Income calculation: employee benefits 'credits'

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OUbobcats_1804
New Member

Income calculation: employee benefits 'credits'

Hello all,

 

In calculating my gross salary I want to use my base as well as pay period employee benefits 'credits'.  These credits are monetary in nature (around $155 per pay period, so about $3700 yearly).  Can I add this amount ($3700) to my base salary for mortgage income calculation? Thanks!

 

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pizzadude
Credit Mentor

Re: Income calculation: employee benefits 'credits'


@OUbobcats_1804 wrote:

Hello all,

 

In calculating my gross salary I want to use my base as well as pay period employee benefits 'credits'.  These credits are monetary in nature (around $155 per pay period, so about $3700 yearly).  Can I add this amount ($3700) to my base salary for mortgage income calculation? Thanks!

 


Are these employee credits reflected on your W2 at the end of the year ?   If so then I see no reason why they couldn't be included as income.

 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 3
OUbobcats_1804
New Member

Re: Income calculation: employee benefits 'credits'

Thanks for the response...they are reflected within the dollar amount designated as "GROSS PAY"...on the front W2, under the "2011 W-2 and EARNINGS SUMMARY" title.  They are not, however, reflected within Box 1 (Wages, tips, other comp.) or Box 3/Box 5 amounts.

 

Which box does the Loan Officer/Underwriter pay attention to?

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