Professional mortgage worksheet · accountants

Corporate Income Mortgage Worksheet

A clean two-year bridge between the financial statements and the mortgage file. It separates the numbers that are often blurred together—NIAT, ownership, dividends already counted personally, owner salary and lender-specific adjustments—without pretending to calculate universally acceptable qualifying income.

This is a normalization worksheet—not a qualifying-income calculator.

Use it to organize the corporate record before lender methodology is applied. It does not decide whether NIAT may be used, which adjustments a lender accepts, whether corporate funds are distributable, or what income a lender will approve.

Year 1

Prior fiscal year

Financial-statement NIAT ($)Enter after-tax corporate net income for the period being reviewed—not retained earnings or cash.Borrower ownership (%)A reference allocation only. A lender may use a different ownership/control methodology.Dividends already counted personally ($)Enter only the dividend amount already included in the mortgage professional's personal-income analysis for the same period.Lender-permitted adjustments ($)Keep at $0 unless the mortgage professional has confirmed the specific lender permits the adjustment and required support.Owner salary shown separately ($)Context only. Salary is not automatically added back to corporate earnings because it may already be counted as the borrower's personal income.

Ownership-adjusted NIAT

$100,000

After entered adjustments

$100,000

Residual corporate review base

$60,000

This subtracts dividends already counted personally as an underwriting anti-double-counting control. It is not an accounting restatement of NIAT.

Year 2

Most recent fiscal year

Ownership-adjusted NIAT

$120,000

After entered adjustments

$120,000

Residual corporate review base

$70,000

This subtracts dividends already counted personally as an underwriting anti-double-counting control. It is not an accounting restatement of NIAT.

Two-year review

Prior-year residual base

$60,000

Most-recent residual base

$70,000

Simple two-year average

$65,000

Year-over-year movement in residual review base

+16.7%

A two-year average is displayed only as a neutral comparison. A lender may use the lower year, most recent year, an average, a lender-specific corporate-income formula, or none of this corporate income. Declining performance, unusual adjustments and liquidity concerns require separate review.

Before anyone treats the output as mortgage income

Reconcile the NIAT figure to the actual financial statements and distinguish it from T2 tax-purpose income.

Confirm ownership, related companies, shareholder transactions and any material year-over-year changes.

Reconcile salary and dividends already being used personally so economic income is not casually counted twice.

Confirm the target lender's actual methodology and evidence requirements before entering any permitted adjustment.

Assess current liquidity and business needs separately; retained earnings or historic profit do not prove cash is available.

Keep the accountant's role factual. The mortgage professional applies lender policy and the lender makes the credit decision.

What this worksheet is for

It gives the accountant and mortgage professional a common reconciliation page before a lender-specific method is applied. The accountant can identify the source figures and unusual items; the mortgage professional can then test the file against the target lender's policy.

It deliberately does not ask an accountant to certify a mortgage-income number or predict what a lender will accept.

Read the methodology before using it

The companion guide explains why financial-statement NIAT, T2 tax-purpose income, dividends, retained earnings, cash and qualifying income must remain separate concepts—and where double counting can enter a corporate-borrower analysis.

Read the worksheet guide