Get Calhfa Income Calculation Worksheet

The Calhfa Income Calculation Worksheet is a critical document for individuals engaging in the CalHFA MCC Program. This guide will provide you with clear, step-by-step instructions on how to accurately complete this worksheet online, ensuring you gather the necessary information efficiently.

Follow the steps to accurately complete the worksheet.

1. Press the ‘Get Form’ button to access the Calhfa Income Calculation Worksheet and open it in an available online editor.
2. Enter the name of the person for whom the income is calculated in the designated field.
3. If applicable, include the name of the primary borrower in the corresponding section.
4. Fill in the date the income is being calculated.
5. Identify and document the type of income. Start by entering the gross pay, which should be based on the most recent Verification of Employment (VOE) and paystubs, ensuring these are attached and recent (no more than 60 days old).
6. In the section for other monthly income, list each type of income separately and include documentation for each. This includes overtime, bonuses, commissions, support payments, rental income, and military allowances. Ensure all relevant attachment indicators are marked.
7. For each source of additional income, accurately input the monthly amounts in the appropriate fields.
8. Calculate the total of all additional monthly income by summing the amounts listed. Enter this total in the provided space.
9. Finally, calculate the total monthly income and the total annual income by multiplying the monthly income by 12. Enter these figures in their respective fields.
10. If required, attach any email advice from the Compliance office regarding income inquiries. Make sure to complete the Worksheet Summary.
11. Have the borrower(s) sign the Summary Sheet upon closing, confirming that no changes have occurred since the submission.

Complete the Calhfa Income Calculation Worksheet online to ensure your application is processed smoothly.