What documents do I need to provide if my down payment is coming from a gift?

Updated 1 month ago ​by Open Listings

In a nutshell: You can use gift money as part or all of your down payment - all you have to do is provide us (and the seller's agent) a gift letter.

Here’s what your gift letter should include:

 • The donor’s name, address and phone number
 • The donor’s relationship to the client
 • The dollar amount of the gift
 • The date the funds were transferred
 • A statement from the donor that no repayment is expected
 • The donor’s signature
 • The address of the property being purchased

It’s important to understand that the gift letter in itself may not be enough evidence for your mortgage company. If you’re getting an FHA loan, the person who gives you the funds will be required to provide a bank statement in addition to a gift letter – so you’ll probably want to let your generous friend or relative know this upfront.