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Frequently Asked Questions

What are the rental income worksheets?

The rental income worksheets are: Individual Rental Income from Investment Property (s) (up to 4 properties) (Form 1038)*, Individual Rental Income from Investment Property (s) (up to 10 properties) (Form 1038A)*, and Business Rental Income from Investment Property (s) (Form 1039)*.

What can I do after accessing MGIC's cash flow worksheets?

After accessing our cash flow worksheets, browse MGIC’s training sessions. You’ll discover a variety of income training webinars to learn more about evaluating base and variable income, rental income analysis, personal and business tax return analysis and financial statement review classes.

What is MGIC mi?

Use MGIC MI to meet your community's diverse mortgage financing needs while reducing your exposure to credit risk, optimizing your capital utilization and reducing loan loss reserves Originate a new loan through refinancing while we processes it as a modification, keeping existing mortgage insurance coverage intact

How do I calculate fair rental days?

Step 1 When using Schedule E, determine the number of months the property was in service by dividing the Fair Rental Days by 30. If Fair Rental Days are not reported, the property is considered to be in service for 12 months unless there is evidence of a shorter term of service. Result Step 2


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