If anyone has experience with FHA gifting for down payment on home please answer?

We are currently applying for a FHA home loan. We are only having my husband apply for the loan for two reasons. 1. I have a student loan under my name which would only add more debt to our debt ratio if I were to be on the loan. 2. My source of income isn't really income as it is technically a "gift"... show more We are currently applying for a FHA home loan. We are only having my husband apply for the loan for two reasons. 1. I have a student loan under my name which would only add more debt to our debt ratio if I were to be on the loan. 2. My source of income isn't really income as it is technically a "gift" from my parents. So my question is I would like to gift my money that I receive from my parents to my husband to use towards our down payment and I am wondering if that is ok to do. I receive about 350 dollars per week from my step mom and dad which comes to about 1400 dollars a month. That is above the 13000$ gift limit for one person per year but it comes out to about 8000 $ or so per parent per year if you count both of them as individuals and as both of there names are on the checks i receive so I legally do not have to pay taxes on this gift. So if I deposit the money from my parents into my own account can I gift that money to my husband to use toward our down payment and if I deposit that money into our joint account does that change anything or make it harder to use or need more documentation. I have never had experience with FHA loan before and I know they are very careful and have a lot of regulations so this is what I am wondering. If anyone has experience with the matter I would love to know. Thanks so much for your help!
Update: Experience with fha loans only please. and also 100% of the down payment can be a gift when getting an fha loan i am wondering if i am gifting gifted money if thats ok
2 answers 2