If a gift is provided by a governmental agency or public entity that has a program providing homeownership assistance to low- or moderate- income families or first-time homebuyers, a gift letter is required. The gift letter must be signed and dated by the donor and Borrower and include the following:
• the donor’s name, address, and telephone number;
• the donor’s relationship to the Borrower;
• the dollar amount of the gift; and
• a statement that no repayment is required.
For additional information see Handbook 4000.1 II.A.4.d.iii(F) and II.A.5.c.iii(F) available at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh