Incomes

The Incomes tab displays all income sources for the primary borrower, co-borrowers, and co-signers. This information is displayed in the Incomes grid and includes Last Name, First Name, MI (middle initial), and Annual Income Amount. Click the Expand/Contract button next to a borrower, co-borrower, or co-signer to expand the grid and display all income sources for the selected  individual. The expanded grid include the following fields: Income Type, Frequency Rate, Periodic Amount, and Annual Amount. The total household income from all sources and for all applicable individuals is displayed at the bottom of the grid.

The Incomes grid pop-up screen is made up of the following fields:

• Income Type: Type of income.

• Frequency Rate: Number of times, per year, the borrower collects payment from the income source.

• Periodic amount: Amount, per pay period, the borrower collects payment from the income source.

• Annual Amount: Total annual amount from the income source. This is calculated by multiplying the amounts in the Frequency Rate and Periodic Amount fields.

Adding an Income Source

1. Select the borrower in the grid to which the income source is to be added then click the Add button below the grid to display the blank income fields.

2. Select the Income Type then enter the Annual Amount from the income source.

3. Enter the number of times, per year, the borrower receives from the income source in the Frequency Rate field.

4. Enter the amount, per pay period, the borrower receives from the income source in the Periodic Amount field.

5. Click the OK button to add the income source,

Editing an Income Source

1. Click the Expand/Contract button next to the borrower then double-click on the income source to be updated.

2. Make the necessary changes.

3. Click the OK button to save the changes.

Deleting an Income Source

1. Click the Expand/Contract button next to the borrower then click on the income source to be deleted.

2. Click the Delete button to remove the income source.