Can I buy a house and have someone else pay the mortgage?

Yes, you can have someone else pay the mortgage on a house that you have purchased, but there are some legal and financial considerations you should be aware of. If you are the owner of the property and have taken out the mortgage in your name, you are ultimately responsible for making the mortgage payments. You could arrange for your parent to pay you directly for their share of the mortgage, but this may not necessarily protect you from tax consequences, as you may still be considered the recipient of rental income. To avoid any potential tax issues, you could consider adding your parent as a co-borrower on the mortgage loan, or have them rent the property from you. It is important to consult with a tax professional and a real estate attorney to understand the legal and tax implications of any arrangement you are considering, as well as to ensure that all necessary steps are taken to protect your interests.

The primary borrower and homeowner is responsible for the mortgage payments.

No. It is not possible to purchase a house and have someone else pay the mortgage. The primary borrower and homeowner is responsible for the mortgage payments.

The first thing you need to do is take a step back in your thinking. When you speak with the loan officer and they say "is this going to be your primary residence", what will you say? Also, for tax time when they ask if you have bought a home in the past year, what will you say? Your better off either buying it as a rental (will show possible income) or giving your parent money to help them buy a home.

If you put the loan in your name you are responsible. You might however have both your names on the loan and have your parent pay the loan through an automatic payment system. As far as tax implications you need to speak to your cpa regarding that. If something happens to your parent then you are 100% responsible. Make sure you put the house in a trust!

Absolutely. It all depends on the financing structure. Having them co-sign will have you as the head of the mortgage. You will be responsible for making the payments. As far as tax implications you need to speak to your CPA.

You certainly can have that arrangement with your mother "off the record", as long as she is paying the costs only, which is what it sounds like your plan is. Should she pay more per month for the home, you would need to claim that on your taxes as rental income. Keep in mind, the debt of the mortgage will be on your credit & included in your debt/income ratio in the future.

If you are considering buying a house for an aging parent and putting the loan in your name, it is possible for your parent to pay the monthly mortgage or contribute to the expenses associated with the home. However, it is important to understand the tax implications of this arrangement. If your parent pays a portion of the expenses, such as the mortgage or property taxes, that amount may be considered rental income on your taxes. You may need to report this income on your tax return and pay taxes on it accordingly. Additionally, if you sell the home in the future, any gains on the sale may also be subject to taxes. It is a good idea to consult with a tax professional or financial advisor to understand the tax implications of buying a home for an aging parent and determine the best course of action for your situation. They can help you determine the best way to structure the arrangement to minimize the tax impact and ensure that you are making the most informed decisions for your family.