Overview

At your upcoming wedding you have a choice. You can allow your guests to give the usual gifts such as "another toaster", like the one illustrated above, or you can request they contribute to your Bridal Down Payment Registry.

The Bridal Down Payment Registry account allows couples who are getting married to open an interest-bearing savings account into which family and friends can directly deposit cash wedding gifts. These deposits are then used for down payment assistance for the purchase of a new home.

At Bridal Down Payment Registry, we will walk you through the process and make the whole experience a very simple and no hassle event. We show you how to get pre-approved for your home loan. We then help you set up your very own Bridal Down Payment bank account, into which your gift money is deposited. Next, we take you out and help you find your dream house. We get final loan approval and set up the closing. Then you move into your new home. It's as simple as that.

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Collecting Gift Money

Prior to your wedding, an invitation to contribute to your down payment fund can be sent to your wedding guests. Your choices of the means of communication are as follows:

1. Allow Bridal Down Payment Registry to send a letter outlining your request
or
2. You send out request with invitations
or
3. You send out request in separate mailing

Funds may be deposited by friends and relatives directly into the Bridal Down Payment Registry Account, or given by cash or check to the couple for deposit. This account will take the guesswork out of gift selection. These gifts can be given with the assurance that the donors are providing the couple with an opportunity to purchase their first home.

Bridal couples are not obligated to use the money in the Bridal Down Payment Registry Account for a down payment on a home. The couples control how the funds will be used and if their plans change, they can simply withdraw the money and use it for something else. Also, there is no requirement that the bridal couple be married prior to closing .

For additional information contact:
Larry Clarke
800-708-9258
info@bridaldownpayment.com

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Opening Your Bridal
Registry Account

FHA policy permits cash gifts to be used as an acceptable source of funds for the down payment. Previously, federal regulations prevented sources of these gifts from those other than immediate family members.

Bridal Down Payment Registry accounts now make gifts from friends and family permissible. A supervised bridal registry account with our representative bank makes the process acceptable to FHA and of benefit to the wedding couple. Now wedding gifts can be used to purchase a new home.

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Pre-Qualification

Going through pre-qualification for a loan can give you valuable information to use in preparing for a new mortgage. Pre-qualification is an informal process and can often take place over the phone or at our web site in just a few minutes. In it, your Bridal Down Payment Registry lender will ask you to provide information about your income, debt, and other financial matters. Based on the information you provide, your Bridal Down Payment Registry lender will give you a home acquisition value range and authorization to begin your home search.

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