Thank you very much everybody! IF we decide to buy, we’ll put down at least 10% and my in-law ~ 50K, and we’ll make sure to get the money in our checking account at least 2 months before we start shopping for loans, probably right when we start looking at houses. I am relieved to find out that the gifts are not considered taxable income for us, and also, that we don’t have to put our parents on the loan. I completely agree with SD R and sdr, it’s just not a good idea, just in case something happens.