Gift Letter
A signed letter saying a sum of money is a gift and does not have to be paid back.
Good for: Family members and others giving money to help someone buy a home, and the person getting the gift. Lenders often ask for one.
Before you sign
- A lender usually wants the gift letter signed by the person giving the money, and may also want bank statements showing the money moving.
- Be sure that it really is a gift. If the money has to be paid back, it is a loan, and a Promissory Note fits better.
- Check with your lender about what they need. Each lender has its own rules.
What this is not
These are standard forms for you to fill in, plus plain-language information. This is not legal advice and this site is not a law firm. We do not file anything for you or check your answers. Rules differ from state to state, so read the finished form before you sign it.