Posted on: 07th Jun, 2010 04:35 pm
Can only a family member give a gift letter
Hi Guest!
Welcome to forums!
If a family member is gifting a certain sum of money to another member who uses it as a down payment for a mortgage, then the grantor of the money will have to give a gift letter. This letter should mention the source of the funds.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If a family member is gifting a certain sum of money to another member who uses it as a down payment for a mortgage, then the grantor of the money will have to give a gift letter. This letter should mention the source of the funds.
Feel free to ask if you've further queries.
Sussane
Gifts can come from family members, employer or labor union, charitable organization, a government agency or public entity that has a program to provide homeownership assistance to low and moderate-income families or first time hme buyers. Close friends with a clearly defined and documented interest in the borrower can provide gifts as well.
