Who can and can’t give gift money to a home buyer. Which costs it can be used for. How to document the gift (a mortgage gift letter). The rules are different depending on the kind of loan you get.

Gifted money isn’t considered taxable income ... For conventional loans, the following rules apply: Your lender might have a gift letter template it requires borrowers to use, so be sure ...

Since that money is coming from another source ... You can search the internet for different examples of gift letters or create your own using the template below for guidance: [Today's Date ...