FHA GIFT DONOR GUIDELINES

1. A relative of the Borrower - a person whose relationship was created from Blood, Marriage or Operation of Law
2. Employer or Labor Union.
3. A Governmental Agency
4. A public entity with a program to provide homeownership assistance
5. Non- profit Group
6. A close friend with a clearly defined interest


Contents of letter must state

1. Must state the dollar amount of the gift
2. Must state that payment is not required
3. Must state the donor and recipients name
4. Must state the donor's address, telephone number
5. Must state the relationship to the borrower
6. Must state that funds given to the homebuyer were not made available to the donor from any person or entity with an interest in the sale of the property including the seller, real estate agent or broker, builder, loan officer or any entity associated with them.