Coming up with a down payment for a house is often a worry for want-to-be homeowners. Depending on the type of home loan you intend on applying for, you would need either 3.5 to 5 percent of the purchase price, or the standard 20 percent of the purchase price. So where does that money come from? For most people, it comes from years of savings and hard work, and if you are fortunate enough, a portion might come from gift funds. Perhaps the money was given to you as a wedding gift, or maybe from your parents to help you get started as you head out on your own. Regardless of where the gift funds came from, there are guidelines and procedures that must be followed if you’re using gift funds for a down payment.