Gift Of Equity Letter Template. A gift of equity letter must be included in the loan file, and it should clearly state the monies are not a loan so there is no repayment involved (hence the phrase “gifted money”). Fillable and printable gift letter template 2021.
Gift of equity letter template is often used in gift letter template and letters. Nephew, son), (name of person receiving gift) the sum of £(gift amount) in order to purchase (address of new property) Depending on who would give the gift, each type varies slightly.
Unlike regular fha down payment gifts, fha equity gifts can only happen between family members.
But they also require the borrower to obtain a gift letter from the person(s) providing the funds. Letter lichtenberg has given is of the short format and some lenders may not accept it. Request for exceptions are made by contacting a fha homeownership center. This article provides a basic template for a mortgage down payment gift letter, along with some sample verbiage you can use.