Quantum Mortgage - Real Estate News and Updates

Continuing Gift Funds

February 5th, 2019 12:55 PM by Michael Benevento

DOCUMENTATION REQUIREMENTS

Gifts must be evidenced by a letter signed by the donor, called a gift letter. The gift letter must:

• Specify the dollar amount of the gift

• Specify the date the funds were transferred

• Include the donor’s statement that no repayment is expected

• Indicate the donor’s name, address, telephone number and relationship to the borrower 

Posted in:General
Posted by Michael Benevento on February 5th, 2019 12:55 PM


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