Gross annual income includes income from all borrowers (e.g., husband and wife) before taxes, Social Security, workers’ compensation, and so on. Bonuses can be added to this amount only if they can be documented over the last 24 months.
Total income received per year, before any deductions for tax and National Insurance. This can consist of both earned (eg: salary, bonuses, etc) and unearned (eg: dividends, rents) incomes.