"I’M GETTING READY TO BUY MY FIRST HOME AND MY PARENTS HAVE OFFERED TO HELP BY GIVING ME MONEY FOR PART OF THE DOWN PAYMENT. WILL I NEED TO DISCLOSE THIS MONEY?" Yes, you’ll need to disclose any large cash gifts that you receive or else your loan may be denied. You can disclose the money by having your parents write what is called a gift letter. The gift letter will need to have the amount of the gift, the relationship of the gifter to the giftee, the address of the property