The Hourly Income Calculator allows you to quickly calculate a borrower's monthly employment income based on their hourly wage and average hours worked per week.
It simplifies income entry by allowing you to:
Select an hourly pay frequency
Enter hourly wages and weekly hours worked
Automatically calculate monthly income
Reduce manual calculations and improve consistency across applications
When adding or editing employment information for a borrower, you can now select Hourly as the income frequency. Jupiter LOS will automatically calculate the borrower's monthly income based on the hourly rate and weekly hours entered.
The Hourly Income Calculator is available in both:
Broker Experience – when entering or editing borrower employment information.
Consumer Experience – when borrowers complete their application through the borrower portal.
In both experiences, users can select Hourly as the income frequency and enter an hourly wage along with the average hours worked per week.
Video: A demonstration of how a Loan Officer can use the Hour Income Calculator in a loan application.
How to open the Borrower's Employment Information
Open the loan application.
Navigate to the Borrower section.
Select the borrower's Employment & Income details.
Create a new employment record or edit an existing one.
Screenshot: Displays where employment records and details are managed in the Employment and Incomes section within the Borrowers section of an open application.
How to complete Employment Details
Enter the required employment information, including:
Employment Type (e.g., Employed by a Company)
Employment Status (Current)
Start Date
Years in Industry
Employer Name
Occupation
Tip: Employer addresses can be selected using the built-in address autocomplete feature.
2. Open the employment record, choose the Hourly income frequency, and enter the hourly rate and weekly hours worked. The monthly income is calculated automatically.
How to select Hourly Income
Within the income section, select Hourly as the income frequency.
Enter the borrower's Hourly Rate.
Enter the Hours Worked Per Week.
Complete any additional fields, such as:
Overtime
Special Relationship
Seasonal Employment
Jupiter will automatically calculate the borrower's monthly income.
4. Click the Save button. The calculated monthly income will be stored within the employment record.
Screenshot: Displays Hourly income frequency option in the drop-down menu, Hourly Rate, Average hours/week field, Save changes button and the calculated Total monthly income amount ($30 x 35 hours x 52 weeks divided by 12 months).
How to Edit and update or Delete the employment details
If changes are required, select Edit icon and update the employment details.
If an employment record needs to be deleted, select the Delete icon.
Screenshot: Displays location of the Edit and Delete icons within the borrowers Employment history section.
How Hourly Income can be updated in the borrower application portal by the applicant(s).
Applicants can also enter hourly employment income using the same calculation logic available to brokers through the borrower application portal.
The borrower(s) will:
Navigate to the Income section of the application.
Enter employment details such as employer name and job title.
Under Base income from this employment, select Hourly from the income frequency dropdown.
Enter:
Hourly wage
Average hours worked per week
As the borrower enters these values, Jupiter automatically calculates and displays the monthly income amount.
Screenshot: Displays borrower's view of the Hourly income frequency option, Hourly Rate, Average hours/week field, Save changes button and the automatically calculated Total monthly income amount ($30 x 35 hours x 52 weeks divided by 12 months).
If you have any questions or need assistance, please click the chat button or email support@jupiterlos.com and our team will be happy to help.