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Mortgage gift letter template

Gift letter for mortgage 2025

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The document is a gift letter certifying that a donor has made a monetary gift to a recipient for the purpose of purchasing property. It states that no repayment is expected, the funds are not sourced from parties with an interest in the property sale, and includes a warning about the legal implications of false statements. The letter requires signatures from both the donor and recipient, along with evidence of the donor's ability to provide funds.

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Click ‘Get Form’ to open the gift letter for mortgage in the editor.
Begin by entering the applicant's name and loan number at the top of the form. This identifies who is receiving the gift.
In section (1), specify the amount of the gift and indicate your relationship to the recipient. This establishes both the financial details and personal connection.
For section (2), provide the property address where this gift will be applied. This ensures clarity on where the funds are directed.
In section (3), confirm that no repayment is expected, reinforcing that this is a true gift.
Complete section (4) by affirming that no funds were sourced from parties with an interest in the property sale, ensuring compliance with regulations.
Fill in section (5) with details about the source of your gift, which may include bank statements or other documentation.
Finally, sign and date at the bottom as both donor and borrower, ensuring all parties acknowledge their understanding of legal implications.

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What are the risks of signing a gift letter?

Gift letters are intended to differentiate between loans and gifts but, when used improperly, may lead to fraud. Thats why its important to seek help from a financial advisor when giving or receiving large financial gifts.

How do you write a letter to a mortgage company explaining a gift?

Example of a Gift Letter I am writing this letter to confirm that I am providing a gift to [Homebuyers Full Name] to be used as a down payment for the purchase of the property located at [Property Address]. I understand that this gift is to be used solely to secure a mortgage loan for the aforementioned property.

Does a gift letter have to be docHubd?

Gift tax considerations: When you gift a property, it may be subject to the federal gift tax, depending on the homes value. As of the latest guidelines, any gift above the annual exclusion amount ($18,000 per recipient in 2024; $19,000 in 2025) must be reported to the IRS.

What are the risks of signing a gift letter for a house?

Intention is important Both parties need to sign a gift letter with the full intention that the money will never need to be repaid. Accepting a large financial gift and signing a gift letter while intending to use the money as a loan is a form of mortgage fraud.

Do lenders verify gift letters?

Lenders will use the gift letter to verify the donor, the source of the funds, the amount of the money, and that the money is a gift and not a loan youre obligated to pay back. Gift letters are legally binding documents.

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What is an example of a gift letter for a mortgage downpayment?

I/We [name of gift-giver(s)] intend to make a GIFT of $ [dollar amount of gift] to [name(s) of recipient(s)] , my/our [relationship, such as son or daughter], to be applied toward the purchase of property located at: [address of the house youre buying, if known] .