FHA Bridal Registry - What a great idea! What could be better than getting help towards your first home!
FHA
designed the program for maximum flexibility and simplicity. It is recommended
that the FHA Bridal Registry be created prior to sending out wedding
invitations. Many couples create their registry about 6 months prior to their
big day. A great way to inform your guests is through a wordpress
bridal page. Many couples are creating these blogs to record all the
memories leading up to their wedding. By including an insert with a link to
your bridal page in you invitation, your guests can learn about your FHA Bridal
Registry and dream of owning your own home in a subtle way.
In order to set up your FHA Bridal Registry:
- Open
an interest baring savings account at the bank of your choice
- Your
friends and relatives can make gift deposits directly into the account a
great way to facilitate this is to post a printable deposit slip for your
new account.
- These
gifted funds can be applied to your 3.5% deposit required by FHA.
- FYI
you do not have to wait until after the wedding to close on your new home
- Also
please note: anyone with an interest in the purchase cannot be party to
the gift funds (i.e. seller, mortgage consultant, Realtor, etc.)
The FHA Bridal Registry will take the guesswork
out of the gift selection while providing friends and relatives with the
assurance they are giving the gift the wedding couple really want and need. The
program provides a rare opportunity for newlyweds to own their dream home.
This program is not limited to couples intending
to be marries. A similar account may be set up for any occasion where gifts are
typically received. It is important to note, these funds belong to the
recipient and may be used for anything of the recipients' choice.