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FHA Bridal Registry Loan Program

By
Managing Real Estate Broker with Arizona Real Estate Options

Did you know FHA has a Bridal Registry Loan Program in Arizona?

First Time Homebuyer

It's true and it works like this: The couple registers with an FHA lender, friends and family deposit their "gift funds" (i.e money) into an interest bearing account they've just opened and labeled "Bridal Registry Account" and the money can be used as down payment on a new home! The couple isn't required to marry first either and there are no gift letters or other documentation required.

 

I mean toasters are nice but......

 

Teral McDowell
Referral Patners LLC - Murphy, TX

This is a popular theme; I think it's a great idea and I hope lots of newlyweds benefit from it.

Jun 29, 2011 04:36 PM
Lisa Dunham
Alexandria, VA
Associate Broker, Alexandria Virginia Real Estate

Sounds like a good idea as long as the couple stays together!  

Jun 29, 2011 04:50 PM
Laura Higginbotham
Arizona Real Estate Options - Mesa, AZ
Broker/Real Estate Consultant, Mesa, Arizona Home

There is no loan penalty if the couple should ever divorce. This loan is treated just like any FHA loan where gift funds are involved.

Jun 30, 2011 05:19 AM