Which costs it can be used for. How to document the gift (a mortgage gift letter). The rules are different depending on the kind of loan you get. Whether you’re giving or receiving a gift ...

You'll typically need to sign a gift letter that states your name, contact information, the gift amount and relationship to the borrower. You can gift funds for a down payment and avoid a gift tax ...

If you were receiving a lump-sum gift from one person, you’d likely need a gift letter for the lender explaining the source of funds. “If you were receiving a lump-sum gift from one person ...

If you are giving the money directly to your daughter you will typically either need to “season” the money or provide a gift letter. Seasoning the money means transferring it more than 60 days ...