Verifying Gift for Down Payment

Gifts
A gift for a down payment works as follows , the gift donor has to endorse a letter claiming that the money does not have to be repaid. The donor is required to confirm that they are can give the funds away (a bank statement displaying the money wasn't veyr recently deposited into their account is adequate), and the person receiving the gift has to have a receipt of the deposited funds.

Different banks may have different rules. FHA has different rules as well for down payment gifts. It is always best to discuss it with a licensed loan consultant.