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Earnest Money Gift Letter

Earnest Money Gift Letter Template for United States

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Key Requirements PROMPT example:

Earnest Money Gift Letter

"I need an Earnest Money Gift Letter documenting a $25,000 gift from my parents for a first-time home purchase in California, with the funds to be transferred by March 15, 2025, that meets FHA loan requirements."

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Document background
The Earnest Money Gift Letter serves as a crucial document in U.S. real estate transactions where homebuyers receive financial assistance from family members or permitted donors for their earnest money deposit. This document is typically required by mortgage lenders to verify that the funds are truly a gift and not a disguised loan that could affect the buyer's debt-to-income ratio. The letter must comply with federal regulations, including FHA guidelines when applicable, and state-specific requirements. It provides essential documentation for tax purposes and helps prevent money laundering by clearly establishing the source and purpose of funds.
Suggested Sections

1. Donor Information: Full legal name, address, and contact information of the person giving the gift

2. Recipient Information: Full legal name, address, and contact information of the person receiving the gift

3. Property Information: Address and details of the property being purchased

4. Gift Amount Declaration: Specific dollar amount being gifted and statement that it is a gift with no repayment expected

5. Relationship Declaration: Statement of the relationship between donor and recipient

6. Source of Funds: Statement describing the origin of the gift funds

7. Signatures: Signature blocks for donor and recipient with date

Optional Sections

1. Additional Donor Certification: Additional certifications or statements required by specific mortgage lenders

2. Wire Transfer Details: Banking information and wire transfer instructions when gift will be transferred electronically

Suggested Schedules

1. Proof of Funds Documentation: Bank statements or other documentation showing donor has funds available

2. Transfer Documentation: Wire transfer receipts or check copies showing transfer of funds

3. Identification Documents: Copies of donor's identification documents when required by lender

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Clauses















Industries

Internal Revenue Code: Federal tax regulations governing gift tax implications, reporting requirements, and annual exclusion limits for monetary gifts

FHA Guidelines: Federal Housing Administration requirements for gift funds documentation and eligibility when used for FHA-backed mortgages

GSE Requirements: Fannie Mae and Freddie Mac specific requirements for gift documentation and verification for conventional mortgage financing

Bank Secrecy Act: Federal regulations regarding reporting and documentation of large monetary transactions to prevent money laundering

AML Regulations: Anti-Money Laundering regulations requiring verification of gift fund sources and donor relationships

State Property Laws: State-specific regulations governing real estate transactions and property transfers

State Contract Laws: State-specific requirements for contract formation, execution, and enforcement

State Real Estate Regulations: State-specific rules governing real estate transactions, including any specific gift documentation requirements

State Gift Tax Laws: State-specific regulations regarding gift taxation and reporting requirements, where applicable

TRID Rules: TILA-RESPA Integrated Disclosure rules affecting how gift funds must be disclosed and documented in mortgage transactions

Lender Requirements: Specific documentation and verification requirements set by individual mortgage lenders for gift funds

Local Real Estate Customs: Regional and local customs and practices regarding gift funds in real estate transactions

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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