Are wedding bells in your future?

Weddings are big business no matter where you live.  The price couples spend on that special day can range from a few thousand dollars to tens of thousands!  Not to mention the cost of the honeymoon!  But after the adreneline of the event dies down and couples return to “the real world” with hopes of starting a new life together, thoughts of buying a first home together is usually one of the first things that come to mind.

With tighter lending restrictions and fewer lending products in today’s market, having great credit is not enough anymore.  Lenders want to make sure they’re lending money on property with equity, so downpayments are becoming the norm once again, and that’s a big hurdle for that a lot of newly weds have to face.

Even a 3% down payment on a $200k home can be a hefty burden, so what’s a couple to do?

[drum roll]

Introducing the Housing and Urban Development’s Bridal Registry Account!

[ta-da! sound]

What a great idea!  Instead of, or in addition to, a traditional wedding registry, brides and grooms can now open up a Bridal Registry Account!

Similar to traditional savings account, brides and grooms can have monetary gifts placed in a gift account — which most likely will be the institute with whom they plan on obtaining a home loan. 

Okay, okay, so the concept isn’t brand new.  Actually, it’s been around since the mid 1990’s, but still isn’t widely known.  So, I’m doing my part to share the knowledge…. now do your part and pass it on!

Interested blushing brides and bashful grooms can get more information and find participating lenders by calling 1-800-CALLFHA (225-5342).

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