how do you write a business letter verifying the money u receive as a gift to buy a house?

Question

lenders want to know where did i get my down payment money from. I need to write a letter telling them that the money was a gift for down payment or closing cost for a house.

Answer 1

What the lender wants to hear is that the money you received is simply that, a "gift" not a "loan". I would have the person/s who gave you the gift write a letter stating the the money is a gift given freely and that no repayment is required.

Dear So and So,

The funds in the amount of $xxxx to (you) is a gift only and no repayment is expected or required. We do not and will not retain any interest in any propertyor items purchased with the gift funds.

Thank you

Gift Giver :)

Answer 2

Very simple.

You just need the basics.

1.Your name.
2.The amount.
3.Where it came from. "keep it brief"
4. Print, sign and date.

Also keep in mind that some lenders may want confirmation or proof by asking for a letter from the gift-er as well as from the giftee.

Good Luck
~Trey

Answer 3

Why would they need such proof?
1. Have a dinner for the ones who offered you the gift!
2. Find out why the lenders need to know where you got the payment from!