If you're using a significant amount of gift money as your down payment on a house, it's best to wait until after the 60-day period before applying for a mortgage. Many lenders require that your assets be present in your account for a minimum of 60 days in order to consider them secure or "seasoned" funds. If you receive financial gifts or other significant cash injections within 60 days of purchasing a home, you should be prepared to provide documentation, such as gift letters, to demonstrate the source of those funds.