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1. Yes you can give her gift money in most cases. The only problem with that is the fact you are not a "family" member. You'll need to write an affidavit indicating the nature of your relationship. Not every Lender will accept a Gift from a non-blood relative.
2. Unlikely you can make the Gift in the way you describe. Typically we Lenders want to see the Gift monies in the Donor's account prior to the Gift. We then want to track the funds as it moves out of the Donor's account and into the Borrower's account.
Your best source for specific guidance is your Mortgage Banker who prequalified your fiance for the mortgage financing.
Since the payroll check is written by a company, that would not really qualify since she is not an employee of that company. I would suggest opening a bank account with your name on the account. Otherwise, you are going to encounter logistical issues trying to meet FHA gift requirements.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
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