2 different Savings accounts. Which will FHA lender use, one or both?

[xazilizax]

My boyfriend and I are saving for our down payment on our future home.  We both have our own accounts at different banks and we are both saving our own money separately.  Both of us are looking to purchase the home.  Will the lender look at both of our accounts to see that we have the Savings (which will be combined together) or just one account?

Do they also look at big deposits?  We just sold some things in our  home that we were meaning to get rid of anyway and I will be depositing that money in my Savings.  Do they care where our Savings is coming from?

[Anonymous]

I was in the same situation recently. They looked at both of our bank accounts, last two statements. I was advised if we would be going with a conventional loan, not FHA, to put the large deposits in now and "season" the money or it will look like a gift. Conventional loans (30 yr fixed) with a 20% down payment will not allow any gifting of money. If you go FHA however, you can be gifted the money so large deposits will not matter. 

[xazilizax]

---

@Anonymous wrote:

I was in the same situation recently. They looked at both of our bank accounts, last two statements. I was advised if we would be going with a conventional loan, not FHA, to put the large deposits in now and "season" the money or it will look like a gift. Conventional loans (30 yr fixed) with a 20% down payment will not allow any gifting of money. If you go FHA however, you can be gifted the money so large deposits will not matter. 

---

Okay....good to know.  I'll have to make all of my deposits now, so it doesn't show on the 2 statements when it's time.  Phew.