Newsflash: Buying first house- issues with me getting mortgage but fiancee providing down payment?

Hi folks, thanks for the help. I’m located in CT.My fiancee and I are trying to buy a house. I won’t bore you with our life story, suffice to say we’re trying to do it ASAP. We wouldn’t be able to do it if she hadn’t gotten a large life insurance payout a bit over two months ago. However, she has very bad credit, while mine is OK. So the mortgage has to be in my name, although we’re putting her on the title.She’s capable of putting down $50K on the $325K house that has passed its inspection. But now the mortgage provider is saying that it would be better if she gave me the money as a gift and the checks came directly from me. I am a little worried that there might be tax or otherwise unexpected implications to this transfer, so I was hoping to get some clarification on that topic. Again, thanks for any advice you could throw my way.


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