"The best way to send funds is to wire them so that it is easier for a lender to see who the donor was," Ms. Kullman said. "Lenders will also require a gift letter that shows that the donors do not have a financial interest in the purchase of a particular property. There are lots of ways to document that the gifts are from a wedding, such as setting up a separate account and verifying the wedding with a copy of the invitation or the certificate of marriage. A wedding registry would work well, too."
"An FHA loan requires a 3.5 percent down payment, and the entire payment can be made from gift funds," said Gail Kullman, a senior loan officer with Prime Lending in Alexandria. "On a conventional loan, the borrower can use some gift money as part of the down payment, but 5 percent of the down payment must come from their personal funds rather than a gift."