Income Guidelines

Income of all household members, not just parties to the note, must be used in computing annual income. This includes:
  • The gross amount, before any payroll deductions, of wage and salaries
  • Overtime pay, commissions, fees, tips, bonuses, and other compensation for personal services of all adult members of the household
  • If a cost of living allowance or a proposed increase in income has been estimated to take place within the next month, it will be included as income
Other sources of income that must be included are payments in lieu of earnings such as:
  • alimony
  • annuities
  • child support
  • disability compensation
  • dividends
  • insurance policies
  • interest
  • public assistance
  • retirement
  • severance pay
  • social security (including social security received by or on behalf of minors)
  • unemployment compensation