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. Second, the reason your bank is asking you to provide a gift letter Is that the funds must be verified. Depositing, withdrawing and transferring funds into, out of and between one or more accounts;. This guide explains how to document gift funds for a mortgage and meet lender requirements. A gift letter is a piece of legal, written correspondence explicitly stating that money received isn't expected to be repaid. Here's a sample gift letter you can use to prove that the money is truly meant as an outright gift, with no expectation of repayment. ATTACHMENT 3-A: LENDER APPROVAL CHECKLIST. And tell us how you see your role in the Food Policy Council.