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Gift Letter
A signed letter from a family member confirming the money they are giving you is a true gift, not a loan.
How recent: signed before final approval.
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Needed if family is giving you money toward your down payment.
Compare yours to the sample, then check each point
A gift letter that gets accepted
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The donor's name and relationship to you, usually immediate family
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The gift amount
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A statement that it never has to be repaid
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The property address
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Signatures from the donor and every borrower
Before you send it
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Most lenders require their own form. We will send it to you.
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The money should be in your account before closing, with a statement showing the deposit.
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If you are expected to pay it back, it is a loan, not a gift.
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