FHA – Donor Gift Funds – Alternative to Bank Statement: Will FHA accept a statement from the donor’s bank letterhead with the account number, owner of account, and a statement that the balance is greater than “X” which is the amount of the gift? [Gift Funds and Gift of Equity Chart]

Answer: While FHA doesn’t provide detailed instructions on documentation from alternative accounts, the guideline does state: If the gift funds are not verified in the Borrower’s account, obtain the certified check or money order or cashier’s check or wire transfer or other official check evidencing payment to the Borrower or settlement agent, and the donor’s bank […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top