A down payment can be hard to come by. One option is to be gifted the money, but this has certain requirements, such as a gift letter.The withdrawal slip or bank statement showing the funds leaving the donor's account. The check made out directly to the closing agent. See What is backup withholding, later. By signing the filled-out form, you: 1. If borrowers plan to use gift money, they must request a gift letter from their lenders. In the letter, the donors must specify that the money is a gift. 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.