With You Every Step Of The Way ...

In an effort to familiarize you with the financial aspects of home-buying, we have provided a synopsis of the K. Hovnanian American Mortgage process.

STEPS TO SUCCESS:

1. Pre-Approval
To begin the loan process, you will be involved in the pre-approval procedure, during which we gather information (via your loan application and credit history) concerning your income and debt to determine the loan amount compatible with your financial situation.

2. Loan Release
The loan release is the pre-approval of your loan application. The release is subject to the verification of all information submitted at the time of application. The loan release also specifies your maximum buying power at the Design Studio.

3. Loan Approval
Once all verifications are complete OR if your loan was not previously released, you will receive a loan commitment from K. Hovnanian American Mortgage. Depending on your loan type, this may take up to 30 days.

4. Rate Lock-In
When the drywall phase has been completed, you will receive a closing letter from your Orlando new home builder. It is customary to lock-in your rate upon receipt of the closing letter (keep in mind, however, that extended locks can be applied 360 days prior to closing).

5. Final Loan Approval & Proof of Homeowners Insurance
The appraisal is in and proof of Homeowners Insurance is due at this time. We prefer to receive ALL final conditions for closing 45 days prior to closing unless you have made prior arrangements with the lender. Documents are sent to the closing department to prepare your final package for the title company. You can expect to receive your closing figures 2-3 business days before closing.

6. Closing
A cashiers check made payable to the title company is due at closing, and don't forget your photo id, so your package will be complete on this most auspicious occasion!