Page 6 - KHovanian Homes - Pathway to Homeownership

Section 1 | Introduction Purchase Agreement Your Purchase Agreement consists of the Terms and Conditions, the Summary of Basic Provisions together with any Addenda attached. Please make sure to review these documents carefully. Loan Application Once you have signed the Purchase Agreement, the next step is to confirm the details of your chosen financing option for your new home. K. Hovnanian® Homes has developed business relationships with some of the area’s leading financial institutions and have created innovative programs just for our customers so we can make your dream home a reality. Our goal is to provide you with the best financing options available so that your new home purchase is as easy and affordable as possible. 1 Home Design Gallery This is the most exciting part! However, it can also be the most overwhelming. At K. Hovnanian® Homes, we believe that a new home should ultimately reflect your own personality and lifestyle, and our Design Consultants at the K. Hovnanian® Homes Design Gallery are trained to individually guide you to confident design decisions that will make your house unique and personal, a place to call home. To keep your home one schedule and to keep costs affordable, you will only have 7 days to make changes. Gold Key Introduction (where applicable) The Pre-Construction Orientation typically occurs prior to the actual start of construction. You will meet your Community Construction Manager who will: • Confirm all Designer selections have been selected • Review home location on your homesite • Review drainage and grading • Describe the major stages of construction • Answer any questions you may have Gold Key Frame Walk You’re almost there! At this point of construction your home is really taking shape. It is framed, rough electrical, plumbing and mechanicals have been installed and your homesite has been “rough graded.” Your Community Construction Manager will call you to schedule the Pre- Drywall Orientation. During your Orientation, you will learn more about our construction process and get an overview of what to expect from this point forward. Gold Key Orientation We will introduce you to your new home; explain its operating systems, give you some great home maintenance tips and make sure you understand our homeowner service procedures. This is also your opportunity to identify any concerns you may have with your home. During this meeting, we will review the Homeowner’s Guide, which contains helpful ideas and the phone numbers for our Homeowner Service Department if you should come across any concerns in after you move in. Gold Key Delivery On the day of closing, you will have an opportunity to ensure that all of your concerns are addressed and/ or corrected. Our goal is to complete all items prior to closing with the exception of items that are impacted by seasonal conditions as well as items that may be back ordered. Closing of Your New Home The closing of your new home takes place after the home is complete and a certificate of occupancy has been issued by local zoning officials. This means it’s time for us to work with your lender to transfer of title of your new home to you from K. Hovnanian® Homes, upon payment of the purchase price. Homeowner Service We pride ourselves on building value and quality into every home. If you discover any warrantable items after you move in, we have a Homeowner Service Program 1 K. Hovnanian® American Mortgage, LLC. 3601 Quantum Boulevard, Boynton Beach, FL 33426. NMLS #3259 (www.nmlsconsumeraccess.org). Licensed by the Ohio Division of Financial Institutions. K. Hovnanian® is not acting on behalf of or at the direction of HUD/FHA or the Federal government. MBM.850228.000 Ohio Residential Mortgage Lending Act Certificate of Registration. 4 | Edition July 2019