Home Ownership Bridal Registry

How many toasters does a newly married couple need? "Just one, thank you. Now, what do we do with the other 17?"

Selecting a wedding gift that is really needed, but not likely duplicated, is always a challenge. Here's a new twist on the traditional bridal registry that will help couples of the 90's get something they really want--a new house!

Here's how it works. The Home Ownership Bridal Registry is a new program which allows well-wishers to put money into interest-bearing registry accounts. Couples then use the funds as a down payment on a home.

Lenders present couples with cards explaining the details of the program. Cards are shared with family and friends who, in turn, send in contributions as wedding gifts. Couples are notified every time a gift is made to their registry fund so they will know whom to thank. The amount of the gift may be disclosed or, at the donor's request, it may remain a secret.

The Home Ownership Bridal Registry, established in 1996, is available through participating lenders. The bridal registry and the FHA loan programs seem to be made for each other. FHA mortgages have been a favorite of first-time home buyers because they allow minimal down payments.

Need more information on the bridal registry program? If you are purchasing your first home, would you like information on what you need to do before you look for a home? I'll be happy to help. Just give me a call.