Unemployment Benefit Estimation Tool
To help unemployed workers keep their homes, the Department of Labor has developed this tool to help mortgage companies quantify income from unemployment benefits for eligible individuals. More information on the tool and how it can be used can be found at: A New Tool to Project Availablility of Unemployment Benefits
This tool will provide an estimation of potential weeks of UI eligibility and the total potential benefit dollars to be paid to the claimant. The UI program entitlement calculated includes Regular UI, Emergency Unemployment Compensation (EUC), and any Extended Benefits (EB) available in the state.
How to Use the Unemployment Benefit Estimation Tool
- Unemployed individuals who are discussing possible refinancing of their mortgage(s) should be instructed to provide the monetary determination letter(s) sent to them by the state workforce agency applicable to their UI claim.
- Select the state from the scroll down list above. Two additional boxes will open showing the minimum and maximum weekly benefit amount for the state selected; the RESET button will clear the state selected and all of the entries.
- The individual's weekly benefit amount, maximum benefit entitlement, and effective date of claim as shown on the monetary determination should be entered into the appropriate box. Press the CALCULATE button.
- A new screen will appear. It will display the potential amounts and durations of benefits available to the individual, and the total amount of benefits that may be paid.