The letter must explain who is gifting the money, where the donor's funds are coming from and the relationship between the donor and the recipient. A gift letter for a mortgage shows your lender that you don't need to repay gift money toward your down payment.A gift letter is a note from a donor to your lender regarding cash funds for your mortgage down payment. A mortgage gift letter states that you received money as a genuine gift to use toward a down payment, rather than a loan. If the money was gifted to both of you, then the answer is simple. The money is a marital asset and will be divided equitably in the divorce. First Suffolk Mortgage Corporation (First Suffolk) was incorporated in the state of New York in. Candice and Brandon Miller showed the public a world of glittering parties and vacations. The money to sustain it did not exist. Lenders typically require a "gift letter" stating that the money doesn't need to be repaid.