Gift Letter

Why this document matters

When a borrower’s application is submitted and gift funds are utilized to qualify the loan, a gift letter is required to validate the specifics of the gift. It must include the Donor’s name, the gift amount, the Donor’s relationship to the borrower, and the source of the gift. Gift funds can be used for down payment and closing costs, but typically cannot be used for reserves. Without proper gift letter documentation, gift funds may be excluded from qualification, reducing available funds for down payment or closing costs.

When this document is requested

This document is requested when:

Gift funds identified in application or asset statements
Borrower indicates gift funds will be used for loan qualification
Down payment or closing costs include gift funds
Underwriting requires validation of gift fund specifics

Required data fields

Loan information fields

Field Name	Type	Required	Data Source	Notes
Loan number	String	Yes	Loan entity	Alphanumeric identifier

Gift details fields

Field Name	Type	Required	Data Source	Notes
Donor name	String	Yes	User input	Full legal name of donor, repeatable for N donors
Gift amount	Number	Yes	User input	Amount in dollars, positive number
Recipient name	String	Yes	Borrower entity	Full legal name of gift recipient (borrower)
Relationship to recipient	String	Yes	User input	Relationship between donor and recipient (e.g., “Parent”, “Relative”, “Friend”)
Property address	String	Yes	Loan entity	Full street address of property being financed

Certification field

Field Name	Type	Required	Data Source	Notes
Certification acknowledgement	Boolean	Yes	User input	Confirms gift is bona fide with no obligation to repay, and documentation will be provided

Source of funds fields

Field Name	Type	Required	Data Source	Notes
Bank name	String	Yes	User input	Name of financial institution where gift funds originate
Account number	String	Yes	User input	Account number from which gift will be transferred
Date of funds transferred	Date	Conditional	User input	Date funds were or will be transferred, format: MM/DD/YYYY

Donor signature fields (repeatable up to N times)

Field Name	Type	Required	Data Source	Notes
Donor name	String	Yes	User input	Full legal name of donor signing
Donor signature	Signature	Yes	E-signature	Digital signature with timestamp
Signature date	Date	Yes	E-signature	Auto-populated on signature
Donor phone	String	Yes	User input	Phone number of donor
Donor street address	String	Yes	User input	Full street address of donor

Note: Donor name, signature, phone, and address fields can be repeated for each donor (up to N donors).

Suggested questions for data collection

Question	Response Type	Validation
”What is the donor’s full legal name?”	Text input	Required, min 2 words, repeat for each donor
”What is the gift amount?”	Number input	Required, positive number, format: currency
”What is the recipient’s full legal name?”	Text input	Auto-populated from borrower entity
”What is the donor’s relationship to the recipient?”	Text input	Required, relationship description (e.g., “Parent”, “Relative”, “Friend”)
“What is the property address?”	Text input	Auto-populated from loan entity
”Do you certify that this is a bona fide gift with no obligation to repay, and that documentation will be provided?”	Yes/No	Required, must be Yes
”What is the name of the bank where the gift funds originate?”	Text input	Required, name of financial institution
”What is the account number from which the gift will be transferred?”	Text input	Required, account number
”What is the date the funds were or will be transferred?”	Date	Required, format: MM/DD/YYYY
”Donor #X: What is your full legal name?”	Text input	Required, min 2 words, repeat for each donor
”Donor #X: What is your phone number?”	Text input	Required, valid phone number format
”Donor #X: What is your street address?”	Text input	Required, full street address
”Donor #X: Please sign and date this document”	E-signature	Required, includes timestamp

Note: Questions marked with “#X” should be repeated for each donor (up to N donors).

Template

Pre-made templates for this document will be provided separately. When a task is created requesting this document, you can provide donors with the template to complete and upload.

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EXAMPLES

ELEMENTS

CORE ENTITIES

Why this document matters

When this document is requested

Required data fields

Loan information fields

Gift details fields

Certification field

Source of funds fields

Donor signature fields (repeatable up to N times)

Suggested questions for data collection

Template

​Why this document matters

​When this document is requested

​Required data fields

​Loan information fields

​Gift details fields

​Certification field

​Source of funds fields

​Donor signature fields (repeatable up to N times)

​Suggested questions for data collection

​Template

Why this document matters

When this document is requested

Required data fields

Loan information fields

Gift details fields

Certification field

Source of funds fields

Donor signature fields (repeatable up to N times)

Suggested questions for data collection

Template