NEW YORK (Reuters) - Home builder Hovnanian Enterprises Inc (HOV.N: Quote, Profile, Research) on Monday said its quarterly net loss doubled from a year earlier, reflecting land-related charges, and said it has reached agreement with lenders to amend a revolving credit facility.

For the fiscal first quarter ended Jan. 31, Hovnanian reported a net loss available to common stockholders of $130.9 million or $2.07 per share, compared with a net loss of $57.3 million, or 91 cents per share, in the year-ago quarter.

That compared with average analyst forecasts of a $2.06 per share loss, according to Reuters Estimates.

The results included total pretax charges of $94 million for the lower value of land and inventory and other items.

The company also said it has closed an amendment to its revolving credit facility that restricts the maximum commitment amount to $900 million, down from $1.2 billion, in exchange for "a meaningfully less restrictive covenant package."

The company did not specify what was less restrictive, but said it would provide further details on a conference call on Tuesday morning.

Sales of $1.09 billion were ahead of forecasts for $872 million.

Net sales contracts fell 41 percent to 1,511 homes.

The company delivered 3,604 homes during the quarter, up 10 percent from a year earlier, but the aggregate home value was lower than a year ago, Hovnanian said.