Question about Homepath Mortgage down payment sources.Good day all,I am currently in the offer stage on a Homepath property. I am lucky enough to be receiving a 20,000 gift from my in-laws towards the purchase/remodeling of our new home.My lender said that because a homepath mortgage loan is considered a conventional product we would be responsible for providing at least 5% of the down payment out of our own seasoned funds. Our plan initially was to put 10% down (well over the 5% required) on the 125,500 price of the home. We planned to use the gift funds for simplicity and then pay closing cost/remodeling out of our own savings. While we can make the 5% work out of our own funds, it certainly complicates matters. I can not find any information that verifies his statement anywhere else. Every piece of documentation that I've been able to locate says that the down payment can come from multiple sources. (gifts, employer, etc etc) I plan on contacting him tomorrow to see if he can further clarify but wanted to see if I could obtain any additional information prior to that conversation so I would be better educated. Is this just a case of a poorly publicized down payment gift limit on the product or a misunderstanding by my lender?February 11 2014 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.