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a little backstory:

we are scheduled to close escrow on the 10th. we’re approved for the loan, with conditions. my parents gave us a gift of $ 5000 to pay off some debt back in august, no problem. the mortgage broker then requested a gift letter, their statement, and a copy of the cancelled check. all provided. now she wants a written letter from the bank (even tho they have the statements with the balance) stating what my parent’s account balance was on the day that the check cashed… seems random. she’s also been VERY rude and actually yelled at my mom on the phone when she told her that she was uncomfortable with providing her bank statements.

my question is: how random is this situation? is this common practice (not the yelling, that was just mean)… but to ask for information even that far back (3 months)?

3 Thoughts on va home loan gift from parents?
  1. Reply
    August 4, 2012 at 3:34 pm

    Very common for them to do this with borrowers

  2. Reply
    Chris B
    August 4, 2012 at 4:11 pm

    What an odd question! What has your parents gift to do with your loan? You think this is all random??? Put her in her place…she’s not entitled to their bank balance at any time.

  3. Reply
    August 4, 2012 at 4:38 pm

    3 months ago… usually a gift letter is enough, with all the other stuff, the letter from the bank seems unreasonable. I would ask why they need the letter, if they have the statement right there and can read what the balance is.

    … it smells like the mortgage broker is going to pull the rug from under you…. watch out.

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