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Can I use gifted funds for my down payment?

Gifted down payment

Yes. If your family is gifting you some or all of your down payment, you can use it at the time of purchasing. Most lenders require a signed gift letter stating the money is a gift and not a loan. In Canada we have lots of rules around anti-money laundering. Sometimes the documentation can feel redundant, but the rules are in place to protect everyone involved in the transaction.

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