How do I figure out what my annual gross income is? Do you look at last year’s taxes?

While you will typically be asked to submit a copy of your tax returns for the previous two tax years, HHP calculates a projected income by annualizing your current income and compares that projected income to the eligibility range for your household size. For W2 employees, HHP will look at your current gross income (income before taxes). For self-employed applicants, HHP will look at your current net income. Please note that for some of our projects, if you have savings in excess of your required down payment, then .4% of those savings will be included as part of your annual income.