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Do I Have to Disclose a Financial Gift?

do i have to disclose a financial gift? There is no reason to hide a monetary gift when beginning the loan process. You will be asked for a gift letter stating that there is no required repayment of the gift. In addition to the letter, a lender can ask for two or three months' worth of statements for the account where the down payment funds are located. If the money was recently placed into that account, the lender may ask where it came from and request verification of that source as well.

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