Gift Letter Sample For Mortgage

Are you in the process of applying for a mortgage and considering using a gift from a family member or friend to help with your down payment? A Gift Letter Sample For Mortgage can be a useful tool to formalize the gift and ensure that it meets the requirements of your lender. Below, you will find examples of Gift Letter Sample For Mortgage that you can use and modify as needed to suit your specific situation.

Explaining the Purpose of Gift Letter Sample For Mortgage

When applying for a mortgage, lenders typically require borrowers to provide documentation for any funds used for the down payment, including gifts from family members or friends. A Gift Letter Sample For Mortgage serves as a formal statement from the gift donor confirming that the funds are a gift and not a loan that will need to be repaid. This letter helps lenders ensure that the funds are legitimate and do not impact the borrower’s ability to repay the mortgage.

Gift Letter Sample For Mortgage helps formalize the gift.
It confirms that the funds are a gift and not a loan.
It helps lenders verify the legitimacy of the funds.

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Dear [Recipient’s Name],

I am writing this letter to confirm that I am gifting [Amount of Gift] to [Recipient’s Name] to assist with the purchase of their home. This gift is being provided with no expectation of repayment, and it is solely for the purpose of helping [Recipient’s Name] with their down payment on the property located at [Property Address].

I understand that this gift may be used towards the down payment, closing costs, or other expenses related to the purchase of the property. I confirm that I have no financial interest in the property and that the funds provided are a gift with no strings attached.

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Sincerely,

Signature: ___________________________