according to Bankrate’sDown Payment Survey. When homebuyers receive gifted funds for a down payment, mortgage lenders typically require a gift letter to document where the funds came from, among other provisions. Here’s how these letters work, plus some down payment gift rules you should know...
Click the image below to download a mortgage gift letter template you can print and use to document your own down payment gift. Or,click here for a PDFyou can fill out online. Click the image to download a PDF mortgage gift letter template Step 2: Document the source of the gift funds ...