Partnering on FHA loans?

[Frank Bonzai]

has anyone ever partnered on an FHA home? Is it a good idea?
I'm trying to house hack my first property and am saving up, but would like to purchase something sooner so i can save money on rent.  Since Downpayment can be Gifted, is this something i could partner with someone on?  Bank takes first position, investor friend takes second position

[Max Radley]

I asked myself the same question. It becomes a difficult question very quickly. The issue is the money has to fall within the scope of a gift. If you go to the link below and go to page 10 of the PDF, HUD regulations make it clear that the "gift" has to be a true gift and there can be no expectation of repayment (i.e., making a private loan). Therefore, you will likely have to make the intent of the person who is giving you the gift has no intent of seeking repayment.

https://www.hud.gov/sites/documents/4155-1_5_SECB.PDF

Hope this helps.