Where Did My Down Payment Come from?

EXIM will want to know where you will obtain funds for your down payment, closing costs and other fees. Gifts may be used for this purpose, but must be verified in writing (even gifts from relatives). If you're providing less than five percent of the sales price in down payment, the gift must come from a relative, along with a letter stating the person's relation to you, the amount of the gift and that no repayment is expected.