Down payment partner advice

[Bryce Renicker]

Hi BP Community,

I'm looking for a little advice on a potential down payment partnership. I'm getting ready to close on my first property with a 3.5% down FHA loan, but I now have interest from a partner to be a 20% down partner with me on the deal for a 50/50 split of the deal.

I have a few things I haven’t been able to track down information on 

1. Is it advised (or legally required) that my partner be on the loan? 

2.) Can the partner be easily added to the title/deed at closing?

3.) Would underwriting need to be started over to consider my partner as part of the deal from the lenders perspective?

4.) can my partner give me the down payment and let me close the deal without him being involved and simply have him on the title? 

I think I’m just not sure what the next logistical steps would be if I want to include my partner in the deal as I’m only 2 weeks from closing at this time and most of the lending procedures have already been completed for my 3.5% fha loan. Any thoughts or advice would be greatly appreciated!!