Gift Letter For Mortgage PDF Details

A Gift Letter for Mortgage can be a great way to help out a loved one in need of financing for their home. A gift letter states that the money being used to purchase the home is a gift and not a loan. This can be helpful in getting around certain restrictions that lending institutions may have on mortgage loans. By using a gift letter, you may be able to get your loved one the home they want without having to go through all of the bureaucratic red tape. If you are thinking of using a gift letter to help out your loved one with their mortgage, there are a few things you should know first. Lending institutions will often require proof that the money is actually a gift and not a loan.

You may find information regarding the type of form you would like to complete in the table. It will show you the time it takes to complete gift letter for mortgage, what fields you will need to fill in and some further specific details.

QuestionAnswer
Form NameGift Letter For Mortgage
Form Length1 pages
Fillable?Yes
Fillable fields14
Avg. time to fill out3 min 3 sec
Other namesmortgage gift letter template, sample gift letter, gift letter pdf, fillable gift letter mortgage

Form Preview Example

Gift Letter

I, ____________________________________, hereby certify that I/We given/will give a gift of

$ _____________________ to _________________________, my ______________________________

for the premises located at ______________________________________________________________

on ______________________________.

I/We certify that this is a bona fide gift and there is no obligation, expressed or implied, to repay this sum in cash or other services of any kind now or in the future.

I/We understand that this gift will require documentation, including proof I/We have given the gift from the account listed below, and proof that the funds have been received by the applicant or the applicant’s attorney prior to settlement.

THE LENDER may confirm that the funds came from the account listed below:

Name of Depository or other Source:

________________________________________________

Address of Same:

________________________________________________

Account Number:

________________________________________________

I/We Certify that the funds given to the applicant 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, builder, loan officer, or any entity associated with them.

_______________________________________________________________________

_____________________________________________________________________________________

_______________________________________________________________________

NECESSARY DOCUMENTATION FOR ALL LOANS (FANNIE MAE, FREDDIE MAC, FHA, USDA, VA):

1.Verification that gift funds were deposited into applicant’s bank account (bank statement) or attorney trust account (escrow letter)

2.Donor’s bank statement evidencing funds came from donor’s account

WE ARE AWARE OF THE FOLLOWING:I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements when applying for this mortgage, as applicable under the provision of Title 18, United States Code, Section 1014 and Section 1010.

How to Edit Gift Letter For Mortgage Online for Free

It is easy to fill out forms through our PDF editor. Editing the gift letter for mortgage loan sample form is not hard in case you keep up with the following actions:

Step 1: The very first step will be to press the orange "Get Form Now" button.

Step 2: At the moment you're on the form editing page. You may modify and add information to the form, highlight words and phrases, cross or check specific words, add images, insert a signature on it, get rid of unwanted fields, or take them out entirely.

For every single segment, create the data demanded by the system.

filling out mortgage gift letter template word part 1

Type in the details in the Name, of, Depository, or, other, Source Address, of, Same and Account, Number field.

mortgage gift letter template word NameofDepositoryorotherSource, AddressofSame, and AccountNumber blanks to fill

Step 3: Press the button "Done". Your PDF form may be transferred. It is possible to download it to your computer or send it by email.

Step 4: In order to avoid probable future challenges, be certain to have a minimum of a pair of duplicates of each and every document.

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