Gross monthly income definition

Gross monthly income means a borrower's or potential

Gross monthly income means monthly income as

Gross monthly income means the total amount of income received each month from any source of a person who is not self-employed or the gross income from any source of a self-employed person, after deduction of all legitimate business expenses, but without deduction for personal income taxes, contributions for retirement benefits, contributions to a pension or for any other personal expenses.

Examples of Gross monthly income in a sentence

• Gross monthly income is the sum of monthly gross pay, any ad- ditional income from investments, pen- sions, Veterans Administration (VA) compensation, part-time employment, bonuses, dividends, interest, current overtime pay, net rental income, etc., and other income (such as alimony and child support, if the borrower chooses to disclose such income).

• Gross monthly income includes pre-tax contributions to an employer sponsored defined contribution plan and a cafeteria plan, if any.

• Add .02 for each additional child $  Parent 2’s Information Gross monthly income (GMI) includes: employment income, including consistent overtime; interest and investment income; Social Security old-age insurance benefits and disability benefits (SSD), but not supplemental security income (SSI); alimony; military allowances; periodic payments from a pension or retirement plan; and unemployment benefits.

• Add .02 for each additional child $ ➁ Parent 2’s Information Gross monthly income (GMI) includes: employment income, including consistent overtime; interest and investment income; Social Security old-age insurance benefits and disability benefits (SSD), but not supplemental security income (SSI); alimony; military allowances; periodic payments from a pension or retirement plan; and unemployment benefits.

• Gross monthly income of applicant Gross monthly income of spouse/partnerOccupation of applicant Occupation of spouse/partnerFor the purpose of the Necesse option, “monthly income” means the gross monthly income before any deductions.

More Definitions of Gross monthly income

Gross monthly income means an individual's total personal in- come earned during a month prior to any taxes or deductions.

Gross monthly income means an individual's total per- sonal income earned during a month prior to any taxes or deductions.

Gross monthly income means a borrower's or potential borrower's gross monthly income as demonstrated by evidence of income, including, but not limited to, a pay stub, documentation reflecting receipt of public benefits, tax returns, bank statements, or other documentation.

Gross monthly income means income before taxes or other withholdings.

Gross monthly income means salaries, wages, and all other amounts, whether in cash or in-kind, paid or given to the displaced person.

Gross monthly income means total monthly gross income for the month preceding that which the application for remissions is made, from all sources other than receipt of any of the excluded benefits.

Gross monthly income means the total amount of taxable income received each month from any source of a person who is not self-employed or the gross income from any source of a self-employed person, after deduction of all legitimate business expenses, but without deduction for personal income taxes, contributions for retirement benefits, contributions to a pension or for any other personal expenses. “Taxable income” does not include cash flow from savings, a prepaid annuity paid with wholly separate funds prior to the original child support award, or personal injury settlement where the proceeds are not considered income under the then-existing IRS Code.