When you apply for a mortgage, lenders have certain rules and regulations regarding allowable sources of down payments.
One such acceptable source is a non-repayable gift of funds from an immediate family member.
The lender will require the completion of a Gift Letter as evidence that such a gift is being given and used as the down payment on the purchase the home.
You will have to ensure that the down payment is available 14 days prior to possession.
To obtain a form for completion, please click this link and print out the Word document -Download GiftLetter.doc
If you are unable to open the form or to print it, please contact us to arrange for the form to be faxed or picked up.
