What is typically required to validate a borrower's income for a mortgage application?

To validate a borrower's income for a mortgage application, proof of employment and income history is essential. Lenders need to assess the borrower’s ability to repay the loan, which requires a clear understanding of their financial situation. This typically involves reviewing documents such as pay stubs, tax returns, W-2 forms, and sometimes bank statements to confirm both their current employment status and their income over a period of time. This comprehensive documentation provides a reliable foundation for determining the borrower's financial reliability.

Other options do not serve the same primary function. A signed privacy waiver may be relevant in the context of allowing the lender to access personal information, but it does not directly validate income. A credit score, while critical for understanding the borrower’s creditworthiness, does not provide specific information regarding their income. A witness signature on the application has no bearing on income validation; it might be required for the acceptance of the application itself but does not supply any financial evidence. Thus, the requirement for proof of employment and income history is pivotal for mortgage assessment.