GIFT LETTER Applicant s I Loan Number do hereby certify the following Donor 1 I have made a gift of Whose relationship is to Amount Recipient Relationship 2 This gift is to be applied toward the purchase of the property located at Property Address 3 No repayment of the gift is expected or implied in the form of cash or by future services of the recipient. 4 The funds given to the homebuyer were not made available to the donor from any person or entity with an interest in the sale of the...
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Who needs Gift Letter Template Form?

If an individual is taking money from their relative to make a down payment on or purchase a house, they are very likely to be asked to provide an evidence that the money is a gift, not a loan. The Gift Letter Form is supposed to serve as such a written evidence.

Should the Gift Letter be accompanied by any supporting documents?

There isn’t a strict requirement to supplement the fillable gift letter form by any other forms, as all the relevant and mandatory information is expected to be indicated in the Gift Letter.

How to fill out the Gift Letter template?

Such details must be clarified by the completed Gift Letter:

  • Donor

  • Their relationship to a recipient

  • Amount of money

  • Address of the property

  • Source of the gift

  • Date of the completion

  • Donor’s and Borrower’s signatures

When is Gift Letter due?

The Gift Letter template does not imply following a particular deadline. It can be filled out when the need arises, but preferably before or at the moment of making the payment or the down payment.

 

Video instructions and help with filling out and completing gift letter
Instructions and Help about gift letter free printable form

This is Andi Cruz and this video is to describe the gift letter first of all who can give you a gift if you're purchasing a home any family member that is related to you can give you a gift as part of your down payment or towards your closing costs if they choose to do so there are a couple of things we need to do number one we need to complete this gift letter number two we need to show that the money successfully left the donors account without causing it to go negative and then we also need to show the gift successfully entering into your account so let's go through the gifts letter as you see at the top it says gifts letter and then it has the name the word applicants and loan number next to it the applicants is where the borrower's put their name the purchaser of the home puts their name there if you don't know the loan number that's okay we can fill it in after the fact the donor will put their name on the first line where it says I don't do hereby certify the following I have made a gift of dollar amount to the recipient whose relationship is daughter son brother nephew cousin niece you into the relationship there the gift is to be applied towards the purchase of the property located at and this is where you enter the property address for the home you're purchasing no repayment of the gift is expected or implied in the form of cash or by future services of the recipient the funds given to the by the homebuyer were not made available to the donor from any person or entity with an interest in the sale of the property including the seller real estate agent or broker builder loan officer or any entity associated with them the source of the gift is and this is where you put it is a gift from my checking account it is a gift from my savings account it is cash on hand somehow we need to describe where the source of the gift is coming from towards the bottom at the left hand side the donor will sign their name also date the form the we'll print their name legibly please the donor needs to list their address and also their phone number on the right hand side the borrower needs to sign and if there are two borrowers both of them need to sign at the very bottom you see once again where it says attachments evidence of the withdrawal of funds from the donors account is required and evidence of the receipt of the transfer of funds into the borrower's account is also required please be sure to complete this form in its entirety and also write legibly this is submitted to underwriting for their review and if you have any questions just give us a call thank you