When people say they make $$$ per year, is that net income or gross income? And...?

what are banks looking for when applying for a mortgage loan?

When people say they make $$$ per year, is that net income or gross income? And...?

People generally refer to their gross income, especially since actual net income is often not known until you file taxes.

When you are getting a mortgage, the lender will also consider your gross income to determine your DTI ratio (debt to income). They don't factor in all the deductions that come out of your paycheck, as those could vary widely.

When people say they make $$$ per year, is that net income or gross income? And...?

gross income

they look at credit scores, gross income, savings and assets (things you own)

When people say they make $$$ per year, is that net income or gross income? And...?

Gross Income.

Also, banks are looking for a good credit score, strong employment history, and a low debt to income-- a bank will usually lown 35-45% of your monthly gross as your monthly mortgage payment.

(So if you made 1000 a month and had no other bills, you could only pay up to 450 a month for your mortgage, taxes and insurance.)

When people say they make $$$ per year, is that net income or gross income? And...?

Gross