http://www.fhaloanpros.com/2010/05/gifts-for-fha-down-payments/ The Unofficial Guide to FHA Loans & Mortgages Tue, 17 May 2011 20:16:59 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.fhaloanpros.com/2010/05/gifts-for-fha-down-payments/#comment-115223 Gina Pogol Wed, 02 Jun 2010 00:36:31 +0000 http://www.fhaloanpros.com/?p=2803#comment-115223 Interesting. As a loan officer, I never had an underwriter ask for bank letterhead. What they did want was a copy of the giver's bank statement showing that there was money available to make the gift, the letter stating that the funds were a gift, and sometimes evidence of the transfer from the giver's account to the applicant's -- a copy of the check, the deposit slip, and the recipient's bank statement. This seems a bit weird, however, a copy of your Mom's bank statement is probably even more intrusive, and the lender would be within its rights to request it. Good luck! Interesting. As a loan officer, I never had an underwriter ask for bank letterhead. What they did want was a copy of the giver’s bank statement showing that there was money available to make the gift, the letter stating that the funds were a gift, and sometimes evidence of the transfer from the giver’s account to the applicant’s — a copy of the check, the deposit slip, and the recipient’s bank statement. This seems a bit weird, however, a copy of your Mom’s bank statement is probably even more intrusive, and the lender would be within its rights to request it. Good luck!

]]> http://www.fhaloanpros.com/2010/05/gifts-for-fha-down-payments/#comment-113483 kim Fri, 28 May 2010 00:06:19 +0000 http://www.fhaloanpros.com/?p=2803#comment-113483 my mortgage lender is requesting that my mom provide a letter on bank letterhead w/ her bank account number on it. i am leary of this. she has given me a gift of $600. why would they need that info? she has already provided them w/ a letter stating that she has given the gift. please advise.. my mortgage lender is requesting that my mom provide a letter on bank letterhead w/ her bank account number on it. i am leary of this. she has given me a gift of $600. why would they need that info? she has already provided them w/ a letter stating that she has given the gift. please advise..

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