The Bridal Registry Account allows couples who are getting married to open up a bridal registry savings account with participating Federal Housing Administration approved banks nationwide. Family and friends can then deposit their cash wedding gifts directly into the interest-bearing account.

This initiative provides a great way for young couples to save for their first home together. With the homeownership rate for households under the age of 35 significantly below the rate for households nationwide, the bridal registry program is helping to close the gap.

Over 30 mortgage companies nationwide participate in the initiative. Participating mortgage companies set up an interest bearing account and provide information on how the account works to friends and family of the couple.

Consumers may receive more information about the program by calling 1-800-CALL-FHA.