How is my annual income calculated (employment, tax return, health)

[Foreveryours0828]

Hello!
I have finally received a low log #1XX after applying for 3 years. I was contacted via email and was asked to submit documents. I submitted everything on Friday. My question is how do they calculate my income? On my employment verification letter, my employer states my annual income is 21,0XX but this application Requires income 21,4XX-28XXX.
My annual income is definitely over 21,0XX although my employer is stating that on the document. I make around 25-26XXX. Even on my last years w2 it was 26,000. Based on my last 6 paychecks, I’m also projecting 25-26k. What do you guys think? I’m so nervous and losing sleep over this

Also, this property only has 6 available units that fit my income range. I don’t want to get my hopes up since 6 is very low. But if I received the email asking for documents, maybe I should get my hopes up???

Thanks !

[Humblyurz24]

Don't worry your good even if your employer states that you make 21,0xx. With the documents provided they will see you make more than that annual income from your tax returns

[Foreveryours0828]

Originally Posted by Humblyurz24

Don't worry your good even if your employer states that you make 21,0xx. With the documents provided they will see you make more than that annual income from your tax returns

Thank you so much!

[macnyc2003]

Yes, they will use your paystubs along with recent w2s and your last year's tax return. But I believe the most important thing is usually the pay stubs, because they show current income, rather than last year's income. The agent will do an average of the last six pay stubs and then also project your income through the end of the year based on those. Of all the calculations, they will use the highest one. So I agree, I think you'll be okay!

[Foreveryours0828]

Originally Posted by macnyc2003

Yes, they will use your paystubs along with recent w2s and your last year's tax return. But I believe the most important thing is usually the pay stubs, because they show current income, rather than last year's income. The agent will do an average of the last six pay stubs and then also project your income through the end of the year based on those. Of all the calculations, they will use the highest one. So I agree, I think you'll be okay!

Thanks Mac! I’m a little nervous since it’s just 6 units available.

[macnyc2003]

Well, there’s not much you can control about that. This is a very stressful process, so try to reduce your stress level if you can, in healthy ways. Best of luck!