Yes, cash gifts can be used for a down payment on a home. But you must follow your lender’s procedures when receiving a cash gift. First, make sure the gift is made using a personal check, a cashier’s check, or a wire. Second, keep paper records of the gift, including photocopies of the checks and of your deposit to the bank. And make sure your deposit matches the amount of the gift exactly. Your lender will also want to verify that the gift is actually a gift and not a loan in disguise. Cash gifts must not require repayment.