10/17/2026
**Helping someone buy their first home? Here's something you should know about mortgage gift letters. 🏡**
For many first-time homebuyers in Calgary, saving for a down payment is one of the biggest hurdles. With home prices and everyday expenses, a little help from family can make a big difference.
But did you know that if a family member gives you money toward your down payment, your mortgage lender will typically require a **mortgage gift letter?**
**So, what is a mortgage gift letter?**
It's a signed document confirming that money provided by an eligible family member is a genuine gift, not a loan that needs to be repaid.
**Why does it matter?**
When applying for a mortgage in Alberta, lenders need to understand where your down payment is coming from. A gift letter helps confirm that the funds aren't creating an additional debt obligation.
Depending on the lender and mortgage requirements, you may also need to provide bank statements, proof of transfer, or documentation confirming where the money originated.
**Here's where things can get tricky.**
Not everyone can provide an eligible gifted down payment, and lenders have specific requirements for documenting the funds. Who is giving the money, your relationship to them, and how the gift is transferred can all affect your mortgage application.
That's why we recommend speaking with our Calgary mortgage team before moving the money. We can help you understand your lender's requirements and make sure the paperwork is in order.
At Canadian Mortgage Professionals, we've been helping Albertans navigate mortgage financing since 1989. Whether you're buying your first home, helping your children purchase theirs, or figuring out how gifted funds fit into your mortgage approval, we're happy to walk you through it.
**Thinking about giving or receiving money for a down payment? Talk to us before transferring the funds.** We'll help you understand what's required so there are fewer surprises when it's time to finalize your mortgage.
