Adding myself as a joint checking account holder on parents bank account for down payment?Hi All,So currently, we are looking for a family home with my brother, myself and my parents. I would like the house to be under my name however, I don't have enough funds to make the down payment I would like to. I can qualify for the mortgage loan all by myself but don't have all money for the amount of down payment.Assume purchase price of the home to be $400K.Assume I have $125K saved up in my bank account. I would like to put 150K down.My parents said I can use the all the money in their account for the purchase. I would be making all monthly payments and paying all expenses, I would just need money for a portion of the down payment. Currently, my parents co-own their bank account but I would remove my mom and add myself as a joint account holder with my father so I have access to the funds. I would probably take $75K from their account and $75K from mine for down payment. Would this be a issue with the mortgage company/lender?Would this be considered a loan from my parents? Would there be a gift tax issue here?What if I add my father as a co-owner on the house and mortgage? Any help/advice is appreciated!Thanks! June 15 - US0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.