Harbortown Crossing
We are here to Serve the owners
Welcome to our independently run website, which is not connected to the Association. Here, Here we aim to facilitate communication among owners about member meetings and provide public records from the Department of Affairs (DCA), which enforces the provisions of the provisions of the NJ Condominium Act and the Planned Real Estate Development Full Disclosure Act. Please check out the Documents Section of the website for a copy of the Association’s governing documents (Master Deed, Bylaws and Certification of incorporation). The DCA Dispute form is now available on the website for your review.
I want to thank all those members who elected me as a director, especially those from Bldgs. 25A and 25B, for encouraging me to run for election from the end of 2020 to the end of 2022 and again from the end of 2024 to 2026. I joined the Association to understand and document its structure and functionality so that we, the members of this Association, can evaluate and investigate its status as stated in the Associations governing documents. I plan to bring the level of transparency back to the association, which was here when these town houses were purchased.
The first step would be to request assistance regarding our association, which has been accomplished as a group representing members who are comprised of residential deeded owners. We have contacted the Association Regulation Unit in the Department of Community Affairs, which enforces provisions of the New Jersey Condominium Act and the Planned Real Estate Development Full Disclosure Act. These provisions pertaining to the obligations of the association related to the governing documents (Master Deed, Bylaws and Articles of Incorporation) in the following three areas: That Associations adopt and properly administer alternate dispute resolution procedures (ADR); comply with open public meeting requirements; and provide owners access to financial records at reasonable times. To more fully inform you regarding these areas, we have included informational sheets for each subject matter, which are located under the State of New Jersey, Department of Community Affairs, in the Documents section. Also stated in these documents by (DCA); Owners are empowered to correct such matters regarding any noncompliance with governing documents through ADR or litigation as well as by petitioning the board or electing new board members. Also included in the Documents section of this web site is all the 98 pages of the, MASTER DEED, BYLAWS and CERTIFICATE OF INCORPORATION FOR HARBORTOWN CROSSING ASSOCIATION INC. Pages (2-45) for the Master Deed, Pages (45-75) for the BYLAWS and Pages (75-98) for the CIRTIFICATE OF INCORPORATION.
Please feel free to reach out to if you have any concerns that should be addressed. That owners participation is crucial to the associations
Evangeline Dixon, Member/Director
Harbortown Crossing Homeowners Association
752 Harbortown Blvd.
Perth Amboy, NJ 08861
Evangeline Dixon (908) 421-5652
Market Analysis
Harbortown Crossing & FHA Certification
The Condominiums managed by the Harbortown Crossing Condominium Homeowners Association have lost their Federal Housing Authority (FHA) certification and, since 2012, are non-warrantable condos. This means they do not meet FHA or VA guidelines for mortgage loans needed to purchase condominiums in our community and cannot be backed by government entities like Sallie Mae and Freddie Mac. These agencies ensure these loans to the banks that provide the funds. Without these guarantees, many lenders consider financing a mortgage for this type of property too risky, making it harder to finance without substantial cash down payments. For example, closing costs on a non-warrantable condominium with a purchase price of $300,000 – $400,000 can be from 10% – 20% of the purchase price (closing costs can range from $12,000 – $20,000). This results in a negative impact on our property values.
A condominium is deemed warrantable if:
- There are no lawsuits targeting the homeowner’s association (HOA).
- Less than 15% of the other occupants are in debt with their association dues.
- Commercial space accounts for no more than 25% of the building’s square footage.
- An owner occupies the majority of units.
- FHA will require a percentage of the (HOA) fees which must be placed in reserve accounts each month.
FHA and VA loans offer:
- Low down payments of 0 – 3.5%
- Flexible credit review
- Lower closing costs: seller can help pay closing costs
Buying a Condo
Do your research when making major purchases such as a house or condo. Speak to mortgage professionals about current lending rules and interest rates to help make informed decisions.
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Call Us: (908) 421-5652
