September 23, 2008
KB Home Provides Monthly Home Payment Information for Its New Home Communities on Kbhome.Com
KB Home (NYSE:KBH), one of America's largest homebuilders, today announced that its website, www.kbhome.com, is now featuring monthly home payments calculated for its new home communities across the country. By highlighting monthly home payments, a key indicator of affordability, KB Home new home shoppers can now quickly compare the monthly cost of owning a new home with their current monthly rent.
The monthly home payments are listed in addition to the base prices of the homes, and include principal and interest on a 30-year fixed rate mortgage, property taxes and insurance. The payment figures are tailored to each community, and are updated daily based on current interest rates and loan programs available in a particular market from Countrywide KB Home Loans, LLC.
"Low monthly home payments are a high priority for our first-time homebuyers, many of whom are often surprised to learn that they can afford to buy a brand new KB home for not much more than they were paying in rent," said Jeffrey Mezger, president and chief executive officer of KB Home. "Now it will be even easier for potential buyers to make that direct comparison and to see that the dream of homeownership is within their reach."
With 84%(a) of homebuyers using the internet to shop for their new home, the availability of instant monthly home payment information online in real time for KB Home's communities provides a valuable resource for busy consumers.
The monthly home payments are based on the lowest-priced floorplan in each KB Home community. KB Home's Built to Order(TM) process is designed to offer buyers the lowest possible base price on a new home, and then give them the power to choose design options and upgrades based on their own unique taste and budget. Buyers appreciate the transparency of the Built to Order process, which allows them to truly create their dream home, while paying for only the design features they actually want.
"There has never been a better time to buy a new home, especially for people looking to become homeowners for the first time in their lives," added Mezger. "Affordable prices, low interest rates and tax advantages, including the recently approved federal $7,500 tax credit for first-time buyers, are all bringing homeownership within reach for thousands of potential homebuyers across the country."
(a) According to the 2007 National Association of Realtors Profile of Home Buyers and Sellers Study
About KB Home
KB Home, one of the nation's largest homebuilders, has been building quality homes for families for more than 50 years. Headquartered in Los Angeles, the Company has operating divisions in nine states, building communities from coast to coast. KB Home, ranked the #1 homebuilder in FORTUNE magazine's 2008 list of America's Most Admired Companies(R), is a FORTUNE 500 company listed on the New York Stock Exchange under the ticker symbol "KBH." For more information about any of KB Home's new home communities or complete mortgage services offered through Countrywide KB Home Loans, LLC, call 888-KB-HOMES or visit www.kbhome.com.