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. 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.A mortgage gift letter is a simple but essential document that assures lenders the funds you received are a gift, with no repayment expected. A gift letter is a common requirement when submitting an offer on a coop apartment in NYC. 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. 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. A gift letter is a common requirement when submitting an offer on a coop apartment in NYC. Cash Out Refinance Letter rouladen Template, Letter Of Explanation Template Pdf Fill Online Printable rouladen.