Using Gift Money for a Down PaymentUsing Gift Money for a Down PaymentYou can use gift money for a down payment on your home purchase. However, you'll need to provide your mortgage lender with a letter signed by the giver(s) that states the amount was a gift, and the letter will need to be notarized by a third party.
You can use gift money for a down payment on your home purchase. However, you'll need to provide your mortgage lender with a letter signed by the giver(s) that states the amount was a gift, and the letter will need to be notarized by a third party.
The 360 Degrees of Financial Literacy Web site offers general information for managing personal finances and does not recommend specific financial actions. For financial advice tailored to your situation, please contact an expert such as a CPA or a personal financial advisor.
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