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GIFT LETTER

I/We ________________________________________are making a bona fide gift of $ _______ to my/our__________________ (Name of Recipient) __________________________________ for the purchase of a property located at _______________________________________ _______________________________________ It is expressly understood that this is an outright gift and not a loan in any form, and that repayment either in the form of cash or services is not expected at this time or in the future. The funds given to the homebuyer were not made available to the donor from any person or entity with an interest in the sale of the property including the seller, real estate agent or broker, builder, loan officer, or any entity associated with them. Date: _________________ Signature of Donor ______________________________________________________________ Signature of Donor ______________________________________________________________ Address: ______________________________________________________________________ Telephone. Number______________________________________________________________ Applicant's Signature ___________________________________________________________ Applicant's Signature __________________________________________________

GIFT LETTER INSTRUCTIONS

Money received as a Gift is an acceptable source of funds to be used in purchasing/refinancing your home; however, we must be able to verify that these funds are available to you at closing and that these funds are an outright gift and not a loan in any form. The attached GIFT LETTER must be completed and fully executed by the gift donor. Please verify that the property address, amounts of gift, relationship of donor, signatures, address and phone numbers are all filled in. In addition to the GIFT LETTER the lender will also require the following supportive information with regard to the gift funds: CONVENTIONAL LOAN 1. Completed GIFT LETTER 2. PROOF OF DONOR ABILITY TO GIVE GIFT - This may be in the form of recent bank statements or completed bottom portion of gift letter form verifying the donor has the assets available to make a gift in the amount indicated. 3. PROOF OF RECEIPT OF GIFT - This may be in the form of a copy of the deposit ticket with a copy of the gift check or copy of the bank statement evidencing deposit of gift amount. FHA LOAN 1. Completed GIFT LETTER. 2. PROOF OF TRANSFER OF FUNDS - This may be a copy of the donor's check or money order with deposit ticket and a copy of the withdrawal ticket or a cancelled check (front/back) from donor's account. VA LOAN 1. IF GIFT UNDER $5000 - completed GIFT LETTER.

2.

IF GIFT OVER $5000 - completed GIFT LETTER and verification that funds are in either/or donor's account or borrower's account.

VERIFICATION OF DEPOSIT

(To be filled out by bank and depository) I hereby verify that the above-named donor does have the funds available to give as a gift if he (or she) so desires. Name and address of Bank or other depository __________________________________________________ __________________________________________________ __________________________________________________

Account # Signature and title Of bank/depository Official

___________________________________________________ ___________________________________________________ ___________________________________________________ ___________________________________________________

BANK STAMP OR NOTARIZED SIGNATURE

1/03

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