Gig Income Averaging Calculator
Underwriters average two years of Schedule C net income for self-employed borrowers. When year two is lower than year one, most lenders use only year two — killing your qualifying income. Model both scenarios below.
Last reviewed by UseYourCredit editorial team.
Inputs
Includes mileage, phone, platform fees, insurance. Rideshare drivers average 30–45%.
Estimated qualifying income
Year 1 Schedule C net
$40,300
Year 2 Schedule C net
$48,100
Monthly qualifying income used by underwriter
$3,683
Income is stable or increasing — 24-month average applied.
Estimated annual self-employment tax (15.3%)
$6,763
Educational estimate only. Actual underwriting follows Fannie Mae B3-3.2, Freddie Mac 5304, or non-QM guidelines and may add or subtract depreciation, business-use-of-home, and other add-backs.