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Get Fha Gift Letter Affidavit 2012-2026
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How to fill out the FHA Gift Letter Affidavit online
Filling out the FHA Gift Letter Affidavit correctly is essential for assisting the recipient in securing their real estate loan. This guide provides clear, step-by-step instructions for users to navigate the online form efficiently.
Follow the steps to complete the FHA Gift Letter Affidavit online.
- Click ‘Get Form’ button to obtain the FHA Gift Letter Affidavit and open it in your preferred online editor.
- Enter the loan number at the top of the form, which helps identify the specific loan related to the gift.
- Fill in the property address where the real estate transaction is taking place. Ensure this aligns with the loan application.
- Indicate the amount of the gift being provided to the recipient. Clearly state this value to avoid any discrepancies.
- Record the date of the gift. This date should reflect when the funds are transferred or pledged.
- Enter the recipient's name (the borrower). This should match the name on the loan application.
- Provide the donor's name, which is the individual giving the gift. This should also correlate with any identification documents.
- Fill in the donor's address. This is typically the donor's permanent residence.
- Input the donor's phone number for any necessary follow-up regarding the gift.
- Clarify the donor's relationship to the recipient to establish the nature of the gift. This provides context for the loan underwriters.
- Acknowledge that the transfer of funds must be documented. This includes providing a copy of the certified check and a bank statement showing the withdrawal from the donor's account.
- If the gift funds are already in the borrower's account, include a deposit slip or bank statement that verifies this deposit.
- Affirm that the recipient is not obligated to repay the principal or pay interest on the gift at any time. This is crucial for regulatory compliance.
- Confirm that the gift funds are not coming from any party involved in the sale of the property, such as the seller or real estate agents.
- Collect all required signatures, ensuring both the donor and recipient sign and date the form. If there is a co-borrower, that individual must also sign.
- Finally, save your changes. You can download, print, or share the completed FHA Gift Letter Affidavit as required.
Start filling out your FHA Gift Letter Affidavit online today!
When you apply for a mortgage, lenders need to know the money you use for your down payment is yours, and not an undisclosed loan. You'll need to get a gift letter from the person who gives you money. A gift letter assures your lender that the sudden influx of cash in your account is a gift and not a loan.