The seller must provide a signed Gift of Equity Letter containing: The exact dollar amount of the gift. A statement that no repayment is expected or required.
Most lenders, including Fannie Mae and the FHA, restrict these transactions to family members related by blood, marriage, adoption, or legal guardianship, as well as domestic partners and fiancés. what is a gift of equity when buying a home
The donor’s contact information and their relationship to the buyer. The seller must provide a signed Gift of