SOURCE: Views at Hudson Pointe

December 17, 2008 09:40 ET

K. Hovnanian's The Views at Hudson Pointe Earns Federal Approval for Low Down Payment, Easier-Approval Mortgages

NORTH BERGEN, NJ--(Marketwire - December 17, 2008) - K. Hovnanian's The Views at Hudson Pointe, an elegant 146-home condominium community on the Hudson River, has earned approval to offer financing insured by the Federal Housing Administration.

The FHA designation means that qualifying buyers can purchase a home at The Views at Hudson Pointe with a 3.5 percent down payment. It also means more flexibility on credit scores.

"This is a great program for first-time homebuyers," said Jodie Kutner, account manager for K. Hovnanian American Mortgage, LLC. "Right now, the minimum down payment is 10 percent with a credit score of 660. First-time homebuyers now have a better opportunity."

The FHA approval also opens the door for Veteran's Administration-approved loans. VA loans require no down payment.

For home buyers, that means a $600,000 home is available with only a 3.5 percent down payment of $21,000 and a monthly payment of just over $5,500, including principle, interest, taxes, mortgage insurance and home owner association dues. After credits on state and federal income tax, the home will actually cost about $3,300 a month, less than many rentals. The mortgage is a 30-year fixed-rate FHA-insured jumbo mortgage.

Homes at The Views at Hudson Pointe, which is more than two-thirds sold out, offer two or three bedrooms and some have lofts, private balconies or patios or other features. All offer world-class amenities and a location minutes away from the attractions of New York City. Home prices start in the $500s.

"Homes here have been going quickly, but this will increase demand for them," said Randy Brosseau, area president with K. Hovnanian Homes. "With two indoor parking spaces for each home, concierge services, a fitness center, garden and pool overlooking the Manhattan skyline, The Views at Hudson Pointe has long been recognized as the best value on the Hudson River waterfront. With FHA and VA approval, we've just made it easier to own a world-class, riverfront home."

Brosseau and Kutner said FHA approval reaffirms the value and stability of the community. It's based on how the community is set up, how many homes already have sold and other local criteria.

Home buyers who are taking advantage of FHA or VA financing can still take advantage of other offers at The Views at Hudson Pointe. For instance, there are homes available at special prices that are ready for quick occupancy, including some with furniture. There also are special interest rates, some below 5 percent, for all customers.

"People who are smart enough to look on this side of the Hudson for the New York City lifestyle quickly realize you get a lot more here," said Brosseau. "You get comparable amenities and quality plus parking at about half the price of New York City, yet you can still be in the city in a few minutes."

Residents of The Views at Hudson Pointe are treated to a lifestyle of luxury in their own private, riverside community. The intimate community is nearing selling out of the spacious, upscale condominiums.

The homes range in size from a little more than 1,000 to about 1,550 square feet with two to three bedrooms, two to three baths and covered parking. Some homes offer a spacious second-story loft, and most homes feature a private balcony or patio with breathtaking views. Models are available for viewing.

Outside their homes, residents of The Views at Hudson Pointe enjoy a privileged lifestyle beyond compare, with a full array of the finest amenities imaginable, including concierge services, a fitness center, library, conference room, roof garden and outdoor pool with spectacular views of the Manhattan skyline.

The Views at Hudson Pointe offers easy access to the city for commuters and those who want to take advantage of all that New York City has to offer.

The Views at Hudson Pointe offers ultra-convenient access to a plethora of other public transportation options in addition to the bus: Four PATH stations in Jersey City provide rail service to Hoboken, Newark and New York City, and the Waterway Ferry is just a short walk away. It is also close to Routes 1 & 9, I-78, I-95, I-280, the New Jersey Turnpike and the Holland Tunnel.

For more information, visit www.khovmetroliving.com or call (201) 758-0905.

Contact Information


  • Contact:
    Doug Fenichel, APR
    K. Hovnanian Homes
    (732) 623-6979
    Cell Phone: (973) 769-0688