When is gift money no longer a gift?

[Jaimyn Chang]

Hoping I can get a clear answer on this. Thanks in advance.

I am trying to get a 25% conventional mortgage on a duplex that costs $80K. The bank is telling me the down payment can’t be gifted. I have a substantial amount of gift money being deposited into my account soon. I want to use that money to purchase properties. 

Some fellow investor friends of mine are telling me I have to wait 2 years before the gift money is no longer seen as a gift by the bank. Others are telling me I can just let the money season in my account for 2-3 statement cycles. Even two different accountants gave me different answers.

Anyone know how long I’ll have to wait?