A letter fromDPA Alliance Corporation or a family member verifying that they have given you a certain amount of money as a gift and that you do not have to repay it. You can use this money towards your down payment and/or closing costs.
A letter from donor stating that gift money was given the borrower for the specific purpose of purchasing this specific property, and that no payment is required.
A signed statement by a gift donor which explains that a cash gift used by the borrower to qualify for a loan does not need to be repaid.
A letter or statement given to a lender or government agency stating that money advanced to assist the purchase of real property is a gift and there is no obligation to repay.
If your relatives can contribute additional funds in the event you don't have enough money to close a sale, they will need to send this to the lender, stating that the donor does not expect to be repaid. Donated funds must be verified before the home sale is closed.
A letter certifying to the underwriter that funds in a borrower's account are a gift and do not need to be repaid.
A form stating that a relative is giving you money to help you buy a home, and that they will not ask you to pay it back. The letter also provides proof, by referring to bank statements and other records, that the relative does, in fact, have enough money to cover the amount of the gift, and that the money has been transferred to your possession.
A written explanation signed by the individual giving the gift stating, "This is a bona fide gift and there is no obligation expressed or implied to repay this sum at any time."
A written explanation signed by the individual giving the gift that states that the recipient has no obligation, under any circumstances, to repay the loan.
Affidavit A document from the gift-giver, which states that there is no expressed or implied obligation to repay the gift. If the buyer is obtaining a gift for all or a portion of the down payment, closing costs or reserve requirements, then the donor must sign a gift letter confirming the gift status of the provided funds. In addition, the donor must often provide documentation that the funds actually belong to the donor and is transferred from the donor's account into the applicant's possession.
A letter that a family member writes verifying that he/she has given you a certain amount of money as a gift and that you do not have to repay it. You can use this money towards a portion of your down payment through some mortgage products.
A letter provided to a lender or government agency acknowledging that the money being used (often the down payment) to purchase real property was a gift from another person with no obligation to repay.
A letter to the lender from the donor stating a gift of money has been made to the buyer in order to purchase specific property. The relationship of the donor and borrower is stated, as well as the amount of the gift.
Letter verifying that funds given to a borrower are a gift and need not be repaid.
A signed letter or statement from an individual providing a cash gift to a borrower in order to qualify for a loan. The letter or statement states that the cash gift does not have to be repaid.
A letter to a lender stating that a gift of money has been given to a buyer to purchase property. The relationship to the buyer is stated as well as the gift amount.
A written explanation signed by the individual giving the gift stating that it is a bona fide gift of money and there is no obligation to repay the money at any time.
A letter or affidavit that indicates that part of a borrower's down payment is supplied by relatives or friends in the form of a gift and that the gift does not have to be repaid.
A written statement from friends or family that explains gift funds given to a borrower to purchase a home, and states that no repayment is expected.
a letter certifying to the underwriter that the funds in an applicant's account are truly a gift and need not be repaid
A letter required in order for a buyer to furnish part of a down payment from a gift. The letter must state that its author has no intention of recouping his or her gift.
A letter from a relative stating that an amount will be gifted to the buyer, and that said amount is not to be repaid.
A letter that a family member writes verifying that s/he has given you a certain amount of money as a gift and that you don't have to repay it. You can use this money towards a portion of your down payment with some mortgages.
Lenders require that the borrower show proof of sufficient funds to cover the down payment. If a close relative gives the borrower money to get their new home there must be documentation proving that this is a gift, not a loan.
A Gift Letter is a gift of funds given to the borrower in order for them to purchase a home. The letter must indicate that no repayment of the gift is expected. The amount of the gift and the date the funds were transferred should be indicated in the letter. The donor, with the proper identification, can be from relatives, friends, an employer, church, municipality, or non-profit organization. The letter must include the donor's name, address, telephone number, and relation to the borrower.