Once Approved, you must see your Employer and change your W-4 to have less federal income tax withheld from your paycheck, which will increase your monthly net income.

• What is included in income? It means the total current annual gross      income (before taxes and withholdings) of the purchaser and ALL adult      members (who are 18 years of age or older, or who will be 18 within the      next 12 months) residing or intending to permanently reside in the      household. This includes spouse, fiancι, parent, relative, adult child,      roommate, friend, etc. • The calculation of Annual Household Income for the MCC Program will      differ from the calculation of income by the First Mortgage Lender. • Tampa Bay CDC does not look at prior earnings. Instead, we base      income on current earning levels, and it must be annualized and projected      forward for the next 12 months. Income must be verified in writing.  Tampa Bay      CDC can accept a Verification of Employment form from the Lender.  If this      is not available, paystubs, W-2s and/or tax returns can be used to verify income.      Annual Income will be projected using the information contained on the written      documentation.  Projected income from the paystubs or verification form must be      compared with previous earnings shown on the tax returns and W-2, and it should      be consistent.  There should not be significant differences in the income.  A slight      variance is acceptable if it is due to increases/decreases in pay or number of hours      worked.  If there is a significant difference, this must be explained. • CDC is required to consider all sources of income, including but not      limited to the following:                     • The gross amount of wages from full and/or part-time                        employment                     • Overtime pay, Bonuses, Commissions, tips, shift differential, etc.                     • The full amount received from Social Security, Pensions,                        Disability Benefits, VA Benefits, Annuities, Retirement Income,                        Trust Income, Death Benefits, etc. (Please note that non-taxable                        income is not "grossed up")                     • Unemployment Compensation, Worker's Compensation or                        Severance Pay                     • Net Income from the Operation of a Business                     • Child Support or Alimony Payments. The only time child support                        or Alimony payments are not included in income is if the                         Borrower can provide proof that it has not been received (i.e.                        Court Printout) AND proof that they have taken action with the                        State's Child Support Enforcement Department to collect the                         Support.                     • Any other type of income (i.e. dividend income, asset income,                         rental income, etc.)                     • Assets and Anticipated Interest and Dividend Income from                        Assets

HOW MUCH OF A CREDIT CAN I GET AND HOW MUCH "EXTRA MONEY" WILL BE IN MY PAYCHECK EACH MONTH?