05/29/2026
🏡 Thinking about using gifted funds for your down payment? Talk to your lender BEFORE doing anything.
I love seeing families help each other achieve homeownership, but one wrong move with gifted funds can create delays—or even jeopardize a loan approval right before closing.
Here are a few important tips:
✅ Talk to your lender BEFORE moving any money.
Your loan officer can tell you exactly how the funds should be transferred and what documentation will be needed.
✅ Get a gift letter.
Your lender will require documentation showing the money is a gift, not a loan.
✅ Keep a clear paper trail.
The funds should move through a traceable method, such as a wire transfer or check. Avoid cash, Venmo, or Zelle whenever possible.
✅ Plan ahead.
If possible, have the funds deposited at least 60 days before closing. This helps avoid extra documentation requirements and makes the process smoother.
❌ Don’t add the person giving the gift to title.
❌ Don’t accept cash.
❌ Don’t move funds between multiple accounts.
❌ Don’t skip the lender conversation.
A quick conversation with your lender before any money changes hands can save a lot of stress later! 🏠✨
