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. 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 short letter like this sample gift letter will cover all of the requirements your lender needs. You can use gifted funds to make a down payment, but your mortgage lender will want to know some details before they allow you to use it. A financial gift toward your down payment can get you into a home faster. Learn how to give and receive gift funds the right way. We can define a gift letter as a legal statement that ensures your bank or lender that the funds that came into your bank account are a gift rather than a loan.

Example Of Monetary Gift Letter In Philadelphia

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