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Monday, July 11, 2011
FHA Bridal Registry
What a great idea! What could be a greater gift than help in getting 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:
1. Open an interest baring savings account at the bank of your choice
2. 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.
3. These gifted funds can be applied to your 3.5% deposit required by FHA.
4. FYI you do not have to wait until after the wedding to close on your new home
5. 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.
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:
1. Open an interest baring savings account at the bank of your choice
2. 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.
3. These gifted funds can be applied to your 3.5% deposit required by FHA.
4. FYI you do not have to wait until after the wedding to close on your new home
5. 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.
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