Fannie Mae Income Calculator: what it does and what it uses

Fannie Mae describes Income Calculator as a way to "calculate income from wage earnings, self-employment, business ownership, and rental properties using borrower income documentation and tax return data."

Fannie Mae says its "free web interface is available for mortgage professionals to generate an immediate response with a qualifying income amount and informative messages. This income amount can then be used in Desktop Underwriter® (DU®) submissions." It also says: "Fannie Mae does not charge a fee for using Income Calculator."

Source: Fannie Mae: Income Calculator · Fannie Mae: Income Calculator Frequently Asked Questions (checked October 31, 2026)

Fannie Mae's FAQ describes the workflow: the originator enters data, Income Calculator "returns a Findings Report (including the qualifying income amount)," and the "Originator saves a copy of the Findings Report in the loan file."

Fannie Mae's October 19, 2026 release notes say: "The free Income Calculator web interface now supports wage-earner income calculations."

Source: Fannie Mae: Income Calculator Frequently Asked Questions · Fannie Mae: Income Calculator Release Notes, October 19, 2026 (PDF) (checked October 31, 2026)

Fannie Mae's FAQ says Income Calculator cannot evaluate self-employment or business ownership income when:

• The most recently filed tax return reflects less than 12 months of earnings
• The employment start date is unknown
• Two years of tax returns are provided, and the borrower has multiple Schedule Cs for one business in the same year and has merged them to a single Schedule C in the other year (Fannie Mae marks this one "coming soon")
• Two years of tax returns are provided, and the business structure changed from one year to the next, such as from a Sole Proprietor (Schedule C) to an S-Corporation
• The business operates on a non-calendar fiscal year
• The borrower has less than 24-month history of self-employment with the business, and the prior employment or occupation history is not consistent as described in the Selling Guide
• The tax returns are more than three years old

Source: Fannie Mae: Income Calculator Frequently Asked Questions (checked October 31, 2026)

Fannie Mae's Selling Guide section on depository accounts, B3-4.2-02, says: "A large deposit is defined as a single deposit that exceeds 50% of the total monthly qualifying income for the loan. When bank statements (typically covering the most recent two months) are used, the lender must evaluate large deposits."

For purchase transactions, it says: "If funds from a large deposit are needed to complete the purchase transaction (that is, are used for the down payment, closing costs, or financial reserves), the lender must document that those funds are from an acceptable source." For refinance transactions, it says documentation or explanation for large deposits is not required.

Source: Fannie Mae Selling Guide B3-4.2-02: Depository Accounts (large deposits) (checked October 31, 2026)

StatementReady is a separate tool. StatementReady works only on bank statements for bank statement loan files. It checks whether each statement's transactions add up to its printed balances. On Purchase, it flags deposits over 50% of the monthly income you enter on the loan file. It builds a list of letters of explanation and sourcing requests you can export.

Reconciled means the transactions add up to the printed balances. It doesn't confirm that each deposit is eligible income.

StatementReady assists your review. It doesn't make underwriting or credit decisions, and it doesn't replace your judgment or your lender's guidelines.