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Can someone else pay my mortgage?

My mom wants to buy me a house but we want it all in my name. Can she pay the mortgage but it is my house?
Asked By George K | Gibbsboro, NJ | 9 views | Buying | 1 day ago
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124 Answers
Jason Craig

Coldwell Banker

Yes. If you take out the loan in your own name, you are the borrower and remain legally responsible for making the payments and the debt shows on your credit. Another person can give you money each month or even pay the lender directly, but that doesn’t change the fact that the mortgage is yours and you have to make sure it gets paid. There isn’t a rule against a parent paying your mortgage, but there are some legal and tax considerations. Payments made on your behalf are generally treated as gifts; if the total exceeds the annual gift‑tax exclusion your mother may need to file a gift‑tax return, and if you treat her payments as rent they can be taxable income to you. Some families avoid confusion by adding the person paying as a co‑borrower or having a written lease, which makes the arrangement clear for the lender. The safest approach is to discuss your plan with a loan officer, a real‑estate attorney and a tax professional so the title, loan structure and reporting are set up properly.
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Amanda Courtney

REP Realty Group

(8)

Yes! Anyone can make your mortgage payment — a family member, business partner, even a tenant — as long as the payment is made on time and in full. Just remember, your name is still legally responsible for the loan, so if payments are late, it affects your credit.

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