Untraceable "CASH" Gifts are

Not Allowed.

HOW TO Give AND Receive

GIFT DONOR

� GIFT LETTER - Sign & Complete (The LENDER provides the GIFT LETTER.) Information

required from the Gift Donor includes Statement of the

Relationship to the Person Receiving the Gift ( i.e. Son,

Daughter, Brother, etc.), Specifying the Dollar Amount of the

Gift, Providing the Address of Gift Donor's Bank and the

Account Number that Gift will be coming from, as well as the

Gift Donor's Contact Information.

� PROOF OF 'MEANS' TO GIVE GIFT

Lenders are Required to Document that a Gift Donor has the

"means" to give Gift Funds. Having the "means" to give a

Monetary Gift provides Assurance that the New Home Buyer

will not be under any Pressure to Help the Gift Donor make

payments for loans taken out for the purpose of giving a gift.

PROOF OF "MEANS" TO GIVE GIFT FUNDS INCLUDES:

(a.) COMPLETE COPY OF GIFT DONOR'S MOST RECENT BANK

STATEMENT (Send All 'Numbered' Pages, even if they are

'Blank'.) For example, if first page of Bank Statement says

Page 1 of 10, send all 10 pages.

OR

(b.) OFFICIAL LETTER FROM GIFT DONOR'S BANK (on Bank

Letterhead) - including the following information: Gift

Donor's Name, Account Number (for Account that Gift will be

Withdrawn from), and Current Balance of Gift Donor's

Account. (the balance must be Sufficient to Cover Amount of

Gift Funds) . The letter must be Signed and Dated by an

Authorized Bank Representative.

� EVIDENCE OF GIFT TRANSFER (a.) WRITTEN CHECK FROM GIFT DONOR - provide Photocopy

of 'Cancelled' Check (front & back) as evidence the Check was

Cashed & Cleared the Gift Donor's Bank Account.

OR

(b.) CASHIERS CHECK (purchased by Gift Donor)- provide

Photocopy of Cashier's Check and Copy of Gift Donor's Bank

Withdrawal Slip (showing Gift Donor's Account Number and

the EXACT Amount of Money Withdrawn to Purchase the

Cashier's Check).

� HAVE QUESTIONS? - CONTACT LENDER ...

EXAMPLE: Copy of

"Cancelled Check"

(front and back)

GIFT RECIPIENT

� GIFT LETTER - Sign & Complete

(The LENDER provides the GIFT LETTER.)

� PROOF OF RECIEPT (of gift)

(a.) MOST RECENT 60-DAY BANK PRINT-OUT

Provide Bank Print-Out (up to and) including the date

the Gift Money was deposited into your Bank

Account. The Print-Out may be obtained DIRECTLY

from your Bank and must have Date Stamp & Bank

Representative's Initials On Each Page.

OR

(b.) MOST RECENT 60-DAY INTERNET PRINT-OUT

Provide Bank Print-Out (up to and) including the date

the Gift Money was deposited into your Bank

Account. The Internet Print-Out must have your

"identifying" information on it (i.e. account

number/name, etc.) and the computer IP Address

must be displayed at the bottom of each page.

AND

(a.) COPY OF THE CANCELLED "GIFT" CHECK

as Proof that their Check was Cashed & Cleared their

Bank Account.

OR

(b.) PHOTOCOPY OF CASHIERS CHECK (FOR GIFT)

made out to You ( from the Gift Donor) and for the

Exact Amount Specified on the Gift Letter.

Your Name

Your Address

Checking/Savings Account # -00000000-000

Jan 1,2015 - Jan 31, 2015

BANK NAME

Page 1 of 1

EXAMPLE of Correct

Format for BANK

STATEMENTS Includes

ALL Required Information

PAGE NUMBERS

NAME & ADDRESS BANK NAME

ALL ACCOUNT ACTIVITY

DATE OF

STATEMENT

ACCOUNT NUMBER

GIFT FUNDS must be DOCUMENTED CORRECTLY

to be considered as ACCEPTABLE FUNDS for

Purchasing a Home when Mortgage Financing is

obtained.

©2015