Non-Taxable Income for FHA Loans: Do 401(k) contributions count?

[Logan Allec]

It is my understanding that in calculating effective income for an FHA loan, non-taxable income (like child support for instance) may be grossed up at the greater of 15% or the borrower's tax rate for the previous year.

Do 401(k) contributions count as non-taxable income since the borrower received the economic benefit but did not pay tax on it since it was deducted from his/her paycheck?