Down Payment Gift Letter
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A down payment gift letter is a signed statement confirming that funds given toward a purchase are a gift with no repayment expected.
What Down Payment Gift Letter means
Lenders require it to prove the money isn't a hidden loan that would raise DTI. It names the donor, relationship, amount, and that no repayment is owed.
Florida example
A Florida buyer receiving $20,000 from a parent provides a gift letter plus bank records showing the transfer. The documentation lets the lender count the funds without treating them as debt.
What it is
A down payment gift letter documents that funds from a family member are a true gift, not a loan. Lenders require it when you use gift money.
It states the amount, the giver, and that no repayment is owed.
Why it matters
A proper gift letter lets you use family help toward your down payment. Missing paperwork can stall your loan.
We handle the gift letter process for you. Apply now and we will make using gift funds simple.
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