Young newlyweds now have another option when signing up for bridal registries.

Instead of getting that upteenth toaster oven, couples can register for something a bit more grand: contributions to a down payment for their first home.

The federal Department of Housing and Urban Development announced the novel registry program last month, enabling young couples to set up special savings accounts with federal- or state-insured lenders.

Gift cards are sent to family and friends with instructions on how to contribute and pre-addressed envelopes from the financial institution.

Though some local institutions have just started promoting the program, they believe it will become popular here because of Hawaii's high housing costs.

"It's kind of a gimmick, but it's a good idea," said Bruce Bourgault, community lending officer for Weyerhaeuser Mortgage Co., one of the participating lenders.

Gail Ota, single-family housing specialist for HUD on Oahu, said lenders typically question mortgage applicants whenever they accumulate large sums of money in a short time span and use that money toward a down payment.

Such questions arise from concerns the money may be borrowed, which isn't allowed for down payments.

But with the registry program, the contributions are clearly designated as gifts, precluding concerns about borrowed funds, Ota said.

The program is intended for people who plan to seek Federal Housing Administration-backed mortgages, which typically require down payments of 7 percent to 10 percent. (The FHA loan limit on Oahu is $232,875).

For more information on the registry program, call (800) 225-5342.