Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, marketing, and the impact of technology on contemporary arts and culture.

When you buy a home with a mortgage and use a gift of cash or equity toward that purchase, you need to get a gift letter from the donor. A gift letter documents where the gift comes from and confirms ...

A gift letter for a mortgage confirms that some or all of the borrower’s down payment money is a gift that doesn’t need to be repaid and that the giver isn’t involved in the purchase or ownership of ...

Mortgage lenders need documentation for large deposits in your bank account. For gifted funds, this means providing a gift letter. A gift letter should include the name and contact information of the ...

Q. A relative needed help with the down payment on a home, so I gave him $25,000. I signed a gift letter to the lender. Shortly after the home closed, a different relative paid me back the $25,000.

When purchasing a home, one of the critical pieces of information is the amount of a down payment you’re providing. For some potential homebuyers, the down payment funding comes from the sale of their ...

Receiving gifts from loved ones can make it easier to come up with the cash for a down payment and buy a home. If you want to use gifts alongside a home loan, though, you’ll need to provide your ...