What is included in a gift letter? 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.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. A gift letter is a common requirement when submitting an offer on a coop apartment in NYC. If you go through a bank they will provide the gift letter form to you to get completed. If someone provides a handwritten letter it is filed away. You'll need a gift letter for mortgage to verify that the gift is bona fide and comes with no strings attached. Gift Letter For Mortgage Template. Your lender might give you a template to follow if you tell them you're using a gift for your down payment. You can search for, get copies of, or update property ownership records, such as deeds and mortgages.