If you're borrowing money from parents for your home purchase down payment, lenders will want to see a gift letter for mortgage approval in NYC. Lenders generally provide a boilerplate mortgage gift letter template for you to use.Below is a typical gift letter template you can share with donors. What is included in a gift letter? A short letter like this sample gift letter will cover all of the requirements your lender needs. 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. 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. 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.