Gift Tax on a Refinance

Hi everyone,

 

My dad owns a rental property. We added my name to the title as joint tenants. 6 months later,  I refinance the property and remove my dad from title. The new loan is only in my name thus I am the only one on title. I only refinanced 75% of the appraised value of the property since the lender would only allow up to 75% due to it not being my primary home. Would this be considered a gift from my dad to me, even though I was on title?

 

Thanks!