Fha/va Gift Letter Template printable pdf download

FHA/VA GIFT LETTER

CERTIFICATION

I, _________________________________________________________________, do hereby certify that I have made a

(name of donor)

gift of $______________________________, to my ______________________________________________________,

(amount of gift)

(relationship to borrower)

_______________________________________________, on ____________________________________ to be applied

(name of borrower)

(date funds were given to borrower)

to the purchase of a property which is located at ___________________________________________________________.

(address of property being purchased)

I further certify that there is no repayment of this gift expected or implied, either in the form of cash or future services.

___________________________________________________

_____________________

Signature of Donor

Date

___________________________________________________

Address of Donor

_________________________________

Telephone Number of Donor

(Required on VA loans on properties located in Northern Virginia, Maryland and District of Columbia only.)

State of:

County or City of:

Subscribed and sworn before me this

day of

, ____

My commission expires

Notary Public Signature

FHA LOANS ONLY (This section must be signed by both the donor and the recipient on ALL FHA LOANS.)

WARNING:

Section 1010 of Title 19, U.S.C. Department of Housing and Urban Development Transactions "provides

Whoever, for the purpose of influencing in any way the action of such department makes, passes,

utters, or publishes any statement knowing the same to be false shall be fined not more than $5,000 or

imprisoned not more than two (2) years, or both".

The Funds given to the homebuyer were not made available to the donor from any person or entity with

an interest in the sale of the property including the seller, real estate agent or broker, builder, loan

officer, or any other entity associated with them.

Donor's acknowledgment of above warning:

_______________________________________________________

(Donor's Signature)

Recipient's acknowledgment of above warning:

______________________________________________________

(Recipient's Signature)

______________________________________________________

(Recipient's Signature)

If the gift funds are in the homebuyer's account

The lender must document the transfer of the funds from the donor to the homebuyer by obtaining a copy of the canceled check or other

withdrawal document showing the withdrawal is from the donor's personal account, along with the homebuyer's deposit slip or bank

statement that shows the deposit. If the loan application is underwritten by a FHA-approved automated underwriting system, then the

documentation requirements stated in the appropriate user guide are to be met.

If the gift funds are to be provided at closing

If the transfer of the gift funds is by certified check made on the donor's account, the lender must obtain a bank statement showing the

withdrawal from the donor's personal account as well as a copy of the certified check.

If the donor purchased a cashier's check, money order, official check or any other type of bank check as a means of transferring the gift

funds, then the donor must provide a withdrawal document or canceled check for the amount of the gift showing the funds came from the

donor's personal account. If the donor borrowed the gift funds and, thus, cannot provide the documentation from his or her bank or other

savings account, the donor must provide evidence that those funds were borrowed from an acceptable source, i.e., not from a party to the

transaction including the mortgage lender.

When the transfer occurs at closing, the lender must obtain verification the closing agent received funds from the donor for the amount of

the gift.

VA LOANS

Borrower must provide proof that the funds have actually been withdrawn from the donor's account and deposited in borrower's account.

Examples of what proof is sufficient are:

Copy of front and back of donor's canceled check made payable to the borrower

Copy of donor's certified check or cashier's check with remitter's name

Copy of donor's withdrawal slip & borrower's deposit slip

Wire transfer with donor's name and account number

Letter from donor's bank stating borrower was the recipient of funds transferred from donor, this letter must include the dollar amount

of funds & signed by bank representative.

NOTE: Gift funds must be in the borrower's account at time of underwriting on all VA loans.

Loan Number: ____________________________

FHA/VA Case Number: ___________________________

BRO 0373 (12/01): FHA/VA Gift Letter

Fha/va Gift Letter Template

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