If you qualify for a conventional mortgage, that is always the best route to take. The rate is cheaper, there is no pmi or up front pmi that comes with all FHA loans. FHA may require the bank statements as well. Check with your lender, but if you have a gift, usually a letter is sufficient from the donar ( again, check with the lender). They may want to see the deposit in your account & a gift letter. If you have the credit scores to qualify, with 10% down, you should be able to get a conventional loan. Good luck & enjoy your new home!