Best Practice: In process application, buyer shopping and 'Gift Letters'
updated 8 months ago
In certain cases, the clients may be raising funds for a down payment at the same time they are looking for housing or completing their pre-approval for purchase.
For example, let's say a couple is getting married in three weeks. They already have enough to be pre-approved for financing and they are already looking for a home and potentially making offers.
The Best Practice is to proactively send Lender template Gift Letters to donors, especially for larger amounts, as those gifts are Pledged or Contributed on the registry.
You'll receive an email notification from downpayment.gift for each pledge or contribution.
See Also: Does downpayment.gift support gift letters.