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. It states how much you're getting and from whom.The letter should include the donor's name, relationship to the buyer, and the exact amount given. If you are buying a single family home as a primary residence, you can use gift funds without contributing any of your own money to the down payment. When borrowers accept and apply gift funds for a mortgage down payment, mortgage gift letter must be included in the loan file. Here's what your gift letter should include: The donor's name, address and phone number. The donor's relationship to the client. The lender is requiring me to write a gift letter stating I'm gifting my SO the down payment, with no expectation of being repaid.

Gift Letter For Money With Mortgage In San Diego

Description

Related forms

Show more info

Form Rating

Form popularity

More info

Trusted and secure by over 3 million people of the world’s leading companies