When purchasing a home, one of the critical pieces of information is the amount of a down payment you’re providing. For some potential homebuyers, the down payment funding comes from the sale of their ...

Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, marketing, and the impact of technology on contemporary arts and culture.

Cash gifts from others can be used toward a down payment or home purchase. In order for a cash gift to be eligible, mortgage lenders require a gift letter that specifies the amount of the gift, its ...

Yes, you can receive (or give) gift money to buy a house — if you follow these rules. Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not ...

A gift letter for a mortgage confirms that some or all of the borrower’s down payment money is a gift that doesn’t need to be repaid and that the giver isn’t involved in the purchase or ownership of ...