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Gift Letter

If you receive a monetary gift for the down payment of your home loan it needs to be properly documented. The standard gift letter form, as reviewed in this video, is filled out by the donor to detail the gift information. It is important for the gift giver to certify that the gift is in fact a gift, but not a loan. The paper trail of the gift also needs to be documented via banking documents or other means as required by your mortgage lender.