Mortgage lenders need documentation for large deposits in your bank account. For gifted funds, this means providing a gift letter. A gift letter should include the name and contact information of the ...

When purchasing a home, one of the critical pieces of information is the amount of a down payment you’re providing. For some potential homebuyers, the down payment funding comes from the sale of their ...

Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, marketing, and the impact of technology on contemporary arts and culture.

For some fortunate homebuyers, a friend, family member or employer may decide to give them a substantial sum to help with the downpayment on a home. Parents, grandparents, aunts and uncles, your ...

A gift letter for a mortgage verifies the source of a homebuyer's gifted down payment funds. The gift letter proves that the funds are in fact a gift and don’t have to be repaid, and that the giver ...

A gift letter for a mortgage confirms that some or all of the borrower’s down payment money is a gift that doesn’t need to be repaid and that the giver isn’t involved in the purchase or ownership of ...