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Old 09-07-2018, 04:38 PM
 
Location: Kansas/China
4,533 posts, read 2,301,265 times
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Most places take gross income, and then when they run your SS# they can find out your debts (or at least some of them). Net Income is very easy to manipulate.
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Old 09-21-2018, 04:02 PM
 
16,492 posts, read 17,513,441 times
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When I look at a applicants credit and debt I look at both the gross, net and more importantly DTI and expenses. I had a applicant who made 130,000 a year. Which was great. After all was said and done on paper applicant was taxed on 30k. Which to me means me made 30k. Applicant wrote off 100,000 in expenses.
The only way you’re writing off those expenses is of you spend it. Applicant did not have enough money leftover to qualify for the rental. Thank you but good luck elsewhere.
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Old 09-21-2018, 05:11 PM
 
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Looking at what you bring home means little .you may owe thousands at the end of the year if you don’t have enough withheld . In actuality you should be bringing home less. Also Money you are contributing to a 401k can be available in a pinch if you stop contributing .

Plus you could be in the 15% bracket , so they withhold taxes accordingly .your spouse can be in the 15% bracket too. But at years end combined you are in the 25% bracket . Now you owe thousands
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