A Gift Letter for Mortgage is a written statement drafted by a mortgage borrower's relative or friend to support the former's mortgage application. If you do not have enough resources to finance your mortgage yet your family member or close friend is prepared to give you the money, they should compose a short note that confirms the source of the money is legitimate. Additionally, a Mortgage Gift Letter certifies the gift donor is not going to have any interest in the house or apartment purchased by the mortgage borrower.
You can download a Sample Gift Letter for Mortgage through the link below. The letter does not usually exceed one or two pages - write down the names of the parties, indicate the sum of the money gifted to the beneficiary, state the purpose of the gift - to finance the purchase of the real estate, record the source of the gift and attach documentation that proves it, date and sign the letter. There is no need to notarize the document unless the financial institution asks for it in advance.
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