A gift letter is a document you submit as part of a loan application if you plan to use gifted money or equity for some or ...

A mortgage gift letter is a document that helps satisfy the requirement that a borrower’s down payment funds come from ...

Gift letters are only necessary when down payment or home purchase funds are gifted to you, and only when you are using a mortgage loan to cover the remainder of the purchase.

Without the letter, the IRS could tax the donor for up to 40% on the gift amount. Mortgage gift letter template. The letter must include: ... real estate agent and/or broker.

Investment property: You can’t use gift funds for the down payment on real estate you’re investing in or otherwise using for income. ... Gift letter for mortgage template. DATE.

Gift Letter Template for a Mortgage. ... But the donor can’t be affiliated with the real estate agent, builder or developer, or anyone else with a financial interest in the purchase.