I am about to buy a house with my girlfriend and her credit is not established enough to get a good rate. I have excellent credit therefor, I would like to just hold/mortgage the note myself to get the best rate. I need to use ~40k of her money for a down payment. Is there a way she could pay for the down payment with the 40k and not have to "gift" the money to me? I see anything over 14k is taxable and I do not the gift to be taxed. Is there any other way we can go about this?
Another Idea I had was to open a joint account with her and have the 40k deposited in and write a gift notice to the mortgage company.. not sure if that would work