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.

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.

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.

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

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.

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.

Yes, but you want to speak to an attorney and accountant to understand your possible liabilities. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Yes this is a common and completely legal arrangement. There is actually a specific Fannie Mae loan program called Family Opportunity Mortgage that allows you to buy a home for an aging parent as a primary residence, even though you will not live there. This means you get primary residence loan terms and rates rather than the higher investment property rates, which is a significant financial advantage. Your parent contributing to the mortgage payment is not taxable income to you as long as it is structured correctly. The simplest approach is they give you the money and you make the mortgage payment yourself, which keeps it clean. If the amount exceeds the annual gift tax exclusion in a year your accountant can advise on how to document it properly, but for most situations covering a portion of a mortgage payment falls well within normal family financial arrangements. Talk to a lender specifically about the Family Opportunity Mortgage and loop in a CPA before you close to make sure the arrangement is structured in a way that works for both your taxes and your parent's situation.