K. Hovnanian Homes Offering 4 Percent Mortgages on Homes in New Jersey
K. Hovnanian Homes, New Jersey's largest homebuilder, is offering 4 percent mortgages on select homes throughout New Jersey. Homes include single-family homes, condominiums, active-adult homes and market-rate homes. The homes must close by Sept. 30.
Edison, NJ, July 24, 2010 --(PR.com)-- K. Hovnanian Homes, New Jersey’s largest homebuilder, says it is offering a special 30-year fixed mortgage rate of 4 percent on select New Jersey homes that close by Sept. 30.
"We already know this is a great time to buy a home," said Lori Olszewski, marketing director of K. Hovnanian Homes. "This interest rate is even lower than market interest rates, which are the lowest they’ve been since the 1950s. Couple the rate with the selection of homes available and an improving economic picture, and it makes it easier to afford a home than it’s been in many years."
Ms. Olszewski said that the 4 percent rate, available for a limited time only, makes it easier to qualify for a mortgage and puts extra money back in homebuyers’ pockets for buying things for their new home. For example, a person taking a $400,000 mortgage will save more than $2,000 a year or more than $64,000 over the 30-year life of the loan compared to someone who takes a mortgage for the same amount at Bankrate.com’s national survey rate of 4.74 percent.
Of course, said Ms. Olszewski, savings will vary by the size of the individual loan. A K. Hovnanian American Mortgage LLC representative will explain the details. Homebuyers can expect to pay closing costs and third-party fees, such as appraiser fees. The 4 percent rate with APR 4.535 percent includes 3 points, which are paid by K. Hovnanian.
"We’re still hearing from people who wish they had taken advantage of the federal tax credit program of up to $8,000," said Ms. Olszewski. "With a 4 percent mortgage, the homeowner with a $400,000 mortgage will save $8,000 in less than four years and then go on saving. This is actually a better opportunity."
Ms. Olszewski said K. Hovnanian has single-family homes, townhomes, condominiums and active-adult homes all over New Jersey that will qualify for the 4 percent mortgage.
"But we have a limited amount of money available at this rate, and when it’s gone, it’s gone," she added. "Anyone who’s even dreaming of owning a new home should move now to see how this special mortgage rate can help them."
K. Hovnanian Homes, named North Jersey’s top builder in overall customer satisfaction in J.D. Power’s 2009 U.S. New-Home Builder Customer Satisfaction Study, is the largest homebuilder in New Jersey. It is the sixth largest homebuilder in the nation.
Founded in 1959 by the late Kevork S. Hovnanian, the company sells homes in 18 states and the District of Columbia. The parent company, Hovnanian Enterprises, Inc., is headquartered in Red Bank, N.J., and delivered 5,659 homes during Fiscal 2009 under several names. Of those, 823 homes delivered in New Jersey, New York and Pennsylvania. Additional homes in those states were sold through joint ventures.
The company reported $1.6 billion in total revenues in Fiscal 2009. K. Hovnanian builds planned communities that include single-family, townhomes and garden homes. In addition, it constructs homes in mid-rise, high-rise and mixed-use buildings. The company also is well known for its active-adult homes, branded as K. Hovnanian’s Four Seasons, and its expertise in community redevelopment and environment rehabilitation. More information is available at www.khov.com or at 888-KHOV-HOME.
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"We already know this is a great time to buy a home," said Lori Olszewski, marketing director of K. Hovnanian Homes. "This interest rate is even lower than market interest rates, which are the lowest they’ve been since the 1950s. Couple the rate with the selection of homes available and an improving economic picture, and it makes it easier to afford a home than it’s been in many years."
Ms. Olszewski said that the 4 percent rate, available for a limited time only, makes it easier to qualify for a mortgage and puts extra money back in homebuyers’ pockets for buying things for their new home. For example, a person taking a $400,000 mortgage will save more than $2,000 a year or more than $64,000 over the 30-year life of the loan compared to someone who takes a mortgage for the same amount at Bankrate.com’s national survey rate of 4.74 percent.
Of course, said Ms. Olszewski, savings will vary by the size of the individual loan. A K. Hovnanian American Mortgage LLC representative will explain the details. Homebuyers can expect to pay closing costs and third-party fees, such as appraiser fees. The 4 percent rate with APR 4.535 percent includes 3 points, which are paid by K. Hovnanian.
"We’re still hearing from people who wish they had taken advantage of the federal tax credit program of up to $8,000," said Ms. Olszewski. "With a 4 percent mortgage, the homeowner with a $400,000 mortgage will save $8,000 in less than four years and then go on saving. This is actually a better opportunity."
Ms. Olszewski said K. Hovnanian has single-family homes, townhomes, condominiums and active-adult homes all over New Jersey that will qualify for the 4 percent mortgage.
"But we have a limited amount of money available at this rate, and when it’s gone, it’s gone," she added. "Anyone who’s even dreaming of owning a new home should move now to see how this special mortgage rate can help them."
K. Hovnanian Homes, named North Jersey’s top builder in overall customer satisfaction in J.D. Power’s 2009 U.S. New-Home Builder Customer Satisfaction Study, is the largest homebuilder in New Jersey. It is the sixth largest homebuilder in the nation.
Founded in 1959 by the late Kevork S. Hovnanian, the company sells homes in 18 states and the District of Columbia. The parent company, Hovnanian Enterprises, Inc., is headquartered in Red Bank, N.J., and delivered 5,659 homes during Fiscal 2009 under several names. Of those, 823 homes delivered in New Jersey, New York and Pennsylvania. Additional homes in those states were sold through joint ventures.
The company reported $1.6 billion in total revenues in Fiscal 2009. K. Hovnanian builds planned communities that include single-family, townhomes and garden homes. In addition, it constructs homes in mid-rise, high-rise and mixed-use buildings. The company also is well known for its active-adult homes, branded as K. Hovnanian’s Four Seasons, and its expertise in community redevelopment and environment rehabilitation. More information is available at www.khov.com or at 888-KHOV-HOME.
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Contact
K Hovnanian Homes
Doug Fenichel, APR
(732) 623-6979
www.khov.com
Cell Phone: (973) 769-0688
Doug Fenichel, APR
(732) 623-6979
www.khov.com
Cell Phone: (973) 769-0688
Contact
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