Gifts refer to the contributions of cash or equity with no expectation of repayment. Gifts may be provided by:
• the Borrower’s Family Member;
• the Borrower’s employer or labor union;
• a close friend with a clearly defined and documented interest in the Borrower;
• a charitable organization;
• a governmental agency or public Entity that has a program providing homeownership assistance to low or moderate income families or first-time homebuyers.
For additional information see Handbook 4000.1 II.A.4.d.iii(F) or II.A.5.c.iii(F) available at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh