Which of the following is a common requirement to qualify for a mortgage loan?

To qualify for a mortgage loan, demonstrating stable income is essential because lenders need assurance that borrowers can repay the loan. Stable income reflects a borrower's capacity to make consistent monthly mortgage payments, which reduces the risk for the lender. This income can be derived from employment wages, salaries, or other sources such as dividends or rental income, but it must show continuity and reliability over time.

While having a large savings account may provide a financial cushion for down payments or closing costs, it is not a strict requirement for qualifying for a mortgage. Similarly, owning another property might enhance a borrower’s profile but is not necessary for getting a mortgage. A family member as a co-signer can assist in qualifying, particularly for those with insufficient credit scores or income, but again, it is not a universal requirement. Therefore, stable income stands out as a foundational criterion in the mortgage qualification process.