Depending on where you are located. I am unsure where Plainfield is at. You can get the bank to draw one up. They are the one who is wanting it. Or you may have to go to an attorney and pay 100 to 200 and have them draft one up. It is a waiver that you have to sign saying that you are giving him the cash for a down payment and you will not come back at a later time and try to get your son to repay the loan. Very common now since the loans have strickened up lately. Also the agent telling you to talk to your CPA. That is probably not a bad idea either. This seems weird to me. You will have to give your son money that he will in return hand back to you. There seems like there could be a loop there. Your CPA would know more about this.

Marc,
The previous answers are correct in advising you to seek a CPA's opinion on the tax consequences.

But the short answer to your specific question is this:
You can draft your own form, or the the lender you choose will likely produce one for you.
The most important thing about a Gift Of Equity is it stating the gift is in no way, shape or form a loan that will ever need to be repaid or passed down.

The lenders want this to ensure who is gifting / giving what and to whom. The actual Gift of equity may be an attempt to allow your son's to purchase with little to no money down, based upon the current actual value of the home. Otherwise the homes value will be based upon the financed amount / purchase price,which will effect how the lender percieves the Loan to Value (LTV). Remember lenders are strict about LTV these days in regards to granting credit and this will determine if your sons wlll be responsible for paying Private Mortgage Insurance (PMI) if the LTV is above 80%

Hi Marc: A gift of equity is quite common when selling property to family members. I do not think it is necessary to consult an attorney, but I would receommend that you speak to your Accountant or tax person and ask if there are any tax issues to be concerned or aware of as the result of this gift. I cannot speak for other lenders, but when my customers have needed this form I prepared it and simply asked them to have it signed and returned.

If you need some help with this, I would be happy to provide you with a standard industry form.

Marc
In most cases you don't sell a home to children, the home's ownership is transferred via a change in title.
It sounds to me as though your sons are trying to obtain financing for a loan to buy the home from you. Are you selling at market value or below market value?

Who's idea was it to construct the sale of the home in this manner?
It sounds to me as though you need some alternatives. I am not a CPA, but just a quick search turned up the link below. You should talk with a CPA regarding the tax consequences of transferring ownership this way.