Standard YTD Pay Stub Calculation
1. Check the
Use Monthly Pay Frequency
box if the
customer is paid on a monthly basis.
2. Enter the
YTD Gross Pay
from the pay stub.
3. Enter the
Check Date
and the
Pay Period Ending
Date
.
4. Enter the
Verified Hire Date
if the customer has not
been employed since Jan. 1of the calendar year.
5. Click the
Calculate
button.
Note: 20% for Residence
will automatically calculate.
Standard YTD W-2 Calculation
1. Check the
W-2
box.
2. Enter the
YTD Gross Pay
from the W-2.
3. Click the
Calculate
button.
Note:
W2’s are only utilized January–March and must be
accompanied by a current pay stub.
Base Pay Calculation
1. Determine the customer’s pay frequency.
a. 40 hours = Weekly
b. 80 hours = Bi-weekly
c. 86.67 or 88 hours = Semi-monthly
2. Enter the customer’s
Base Pay
from the pay stub.
3. Select the
Pay Frequency
from the drop down box.
4. Click
Calculate
.
Use base pay calculator if:
•
The customer has not been employed with the same
employer since January 1 of the calendar year and the
exact hire date cannot be determined.
•
The paystub is dated in January and February of the
calendar year.
•
There is a one-time leave of absence and specific dates
cannot be verified.
•
The applicant recently received a raise and the base
pay calculation will more accurately reflect the
applicant's monthly income.
•
The verified time on job for the applicant is within 60
days of the pay period ending date listed on the income
documentation.
USPS Employee Calculation
1. Enter the customer’s
YTD Gross Pay
from the pay stub.
2. Select the
Pay Period
from the pay stub.
3. Click
Calculate
.
Note:
To calculate a monthly garnishment amount, enter
the amount of the garnishment in
Base Pay
from the pay
stub, select the
Pay Frequency and
click
Calculate
.
Using the GM Financial Monthly Income Calculators
