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 ...

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 ...

Fourteen percent of current homeowners received a gift from family or friends to put toward the down payment and closing costs on their first home, according to Bankrate’s Down Payment Survey. If you ...