2.6.4 Gifts from Family Members
Some loan programs, and FHA programs in particular (see Types of Loans), will allow family members to give you a gift of all or part of the money you’ll need to purchase your home. If you have family members who are this generous, they will generally need to sign documents indicating that the money is a gift and that they are not expecting repayment from you. You will also probably need documentation that the money was withdrawn from the bank account of the person making the gift before it was deposited in your account. Talk to your mortgage loan officer and follow their instructions on how to do this.