Letter of Contribution to Down Payment
(Many parents or other relatives will offer to contribute sums to let their children or other relatives buy a home. This form creates a "letter of contribution" which can be used to give to bank officers or others during qualifying for a mortgage.)
CONTRIBUTOR will make a gift of at least $ ( & 00/100 dollars) to [NAME] AND [NAME] BUYER, as a contribution to the down payment to be made towards purchasing a primary residence for the BUYERS.
This contribution will be made as an addition to the down payment.
This offer to make a contribution shall expire on ____________, 20 __.
This offer is made contingent upon the amount of the contribution being made a lien on the property, due and payable at the time of sale of the property.
The priority of the lien will be junior to any other purchase money financing.
This offer is also made contingent upon the following conditions: