If you use a gift payment, you'll need a gift letter for the mortgage if the gift is made within three months of the closing. 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 is a common requirement when submitting an offer on a coop apartment in NYC. The seller would more highly value a "Commitment Letter to Close" based on a price and money down. Makes your offer nearly as good as gold. A short letter like this sample gift letter will cover all of the requirements your lender needs. You'll need a gift letter for mortgage to verify that the gift is bona fide and comes with no strings attached. 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. My name is Edris J. Lopez. I currently reside in The Bronx, NY. In 2008 I had just gotten my.