NVR, Inc.

NVR, Inc. is a Virginia corporation primarily engaged in the construction and sale of single-family detached homes, townhomes, and condominium buildings, largely on a pre-sold basis. To support its homebuilding customers, the company also operates a mortgage banking and title services business, primarily through its wholly owned subsidiary, NVR Mortgage Finance, Inc. NVR is one of the largest homebuilders in the United States, operating in thirty-seven metropolitan areas across sixteen states and Washington, D.C. The company's homebuilding operations use three trade names. Ryan Homes targets first-time and first-time move-up buyers and operates in thirty-seven metropolitan areas in Maryland, Virginia, Washington, D.C., Delaware, West Virginia, Pennsylvania, Ohio, New York, New Jersey, Indiana, Illinois, North Carolina, South Carolina, Georgia, Florida, Tennessee, and Kentucky. NVHomes and Heartland Homes cater to move-up and luxury buyers. NVHomes operates in Delaware, New Jersey, and the Washington, D.C., Baltimore, MD, and Philadelphia, PA metropolitan areas. Heartland Homes operates in the Pittsburgh, PA metropolitan area. NVR generally acquires finished building lots from third-party land developers through fixed-price lot purchase agreements, typically requiring deposits up to 10% of the aggregate purchase price. This strategy aims to avoid the financial requirements and risks of direct land ownership and development.