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Thrifty Mortgage
Most lenders do have mortgage structures that allow a gift to be used for a down payment. The gift must meet the following requirements:

  • The gift has to be given by an immediate family member, approved gov't entity or employer
  • The donor and recipient have to sign a gift letter provided by the lender
  • The gift will need to be sourced from the donor and to the recipient



It is IMPERATIVE that you tell your lender upfront that you intend to use a gift for the down payment as this WILL affect the type of loan the lender offers you. You will also need to begin working on documenting the gift right away as it can take time to gather all the required information for the lender. 

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