What documentation is typically required to obtain a mortgage?

To obtain a mortgage, lenders typically require proof of income, a credit report, tax returns, and asset statements. These documents help establish the borrower's financial stability and ability to repay the loan.

Proof of income, such as pay stubs or employer verification, demonstrates ongoing earning capacity. A credit report provides insight into the borrower’s credit history and credit score, which are critical factors in determining the risk associated with lending. Tax returns offer a longer-term view of the borrower’s earnings, particularly if they are self-employed or have additional income sources. Asset statements show the borrower’s savings or investments, further confirming their financial strength.

While other options may contain relevant documents for different aspects of real estate transactions, they do not collectively encompass the essential requirements specifically needed for securing a mortgage. The combination of documents in the correct choice effectively provides a comprehensive financial snapshot that lenders need to assess the likelihood of successful loan repayment.