Item 1.01 Entry Into a Material Definitive Agreement

On June 23, 2009, Pulte Homes, Inc. (the "Company") entered into a five-year, unsecured letter of credit facility (the "LOC Agreement") with Deutsche Bank AG, New York Branch, which permits the issuance of up to $200.0 million of letters of credit ("LOCs") by the Company. This new credit facility supplements the Company's existing letter of credit capacity included in the Company's unsecured revolving credit facility. The LOCs will be used for general corporate purposes of the Company and its subsidiaries. LOCs may be issued to support the obligations of any wholly-owned subsidiary of the Company. Pricing under the LOC agreement is based on a 100 basis point (1.0%) spread above the applicable credit default swap rate (referencing senior unsecured debt obligations of the Company) over the applicable pricing period.

The covenants in the LOC Agreement are substantially similar to the covenants in the Company's senior note indenture. The covenants include restrictions on creation of secured debt, sale and leaseback transactions, and the consolidation, merger, and sale of assets.

In addition, the LOC Agreement has customary events of default, including (subject to certain materiality thresholds and grace periods) payment default, failure to comply with covenants, material inaccuracy of representation or warranty, bankruptcy or insolvency proceedings, change of control and cross-default to other debt and credit agreements.

If the Company elects to terminate any portion of the availability under the LOC Agreement prior to the scheduled maturity date, then the Company will be obligated to pay an unwind fee.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1 Facility Agreement dated as of June 23, 2009 among Pulte Homes, Inc., Various Financial Institutions, and Deutsche Bank AG, New York Branch.

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