Buying a Jaclyn Heights home involves four steps:

Step 1: Getting Acquainted

  • Visit our sales office, meet with a salesperson, and obtain information.
  • Please bring the following documents with you to this visit. They’re required for purchase/mortgage loan pre-approval.
    • income verification
    • tax filing papers for last two years, including W-2s and/or 1099 forms
    • verification of assets for last two months
  • Your salesperson will explain the process of eligibility for an affordable housing unit or an emerging market unit through the assistance of a mortgage loan representative.

Step 2: Exploring Mortgage Options

If you are eligible to purchase a home, you will meet with one of our approved mortgage representatives to complete the loan application and consent forms, discuss and review mortgage loan types, and obtain a list of the documents required to process your mortgage loan.

The lender will provide you with a pre-approval document if you are qualified for a mortgage loan. If you do not qualify for a mortgage at this time, the lender will provide free consultation to help you understand your options for a possible future purchase.

For Affordable Housing Units

While the mortgage lender’s file is in the processing stage, your salesperson will obtain any additional documents required under NJHMFA guidelines. The complete file will be sent to the State of New Jersey for certification. The State normally takes two to four weeks to complete this process.

Please notify your salesperson when you receive correspondence about certification or other documentation in the mail from the State. If certified, you will then sign the forms, meet with your salesperson, sign the contract, and pay an initial deposit. An attorney then reviews the documents.

For Emerging Market Units

If you receive your mortgage pre-approval, you will meet with your salesperson, sign the contract, and pay an initial deposit. An attorney then reviews the documents.

Step 3: Mortgage Processing

If your mortgage is pre-approved, your file will go through three different stages of processing. The mortgage lender processing teams typically take one to two months for clearance, but sometimes this step takes longer.

The teams include:

  • Loan Processing: Ensures that documents are received and the loan looks feasible.
  • Underwriting: Conducts an in-depth investigation to ensure that the loan can be fully approved.
  • Closing: Ensures that funding of the loan is approved.

When the underwriting team completes its work, you will receive a document known as a “commitment” or “conditional commitment” notifying you if the loan is fully approved. If it is, the mortgage lender will provide a package requiring signatures from all borrowers, and may require additional documentation to ensure funding of the loan.

That is usually the last step before your file is handed off to the closing team. If the home is ready for occupancy, the closing process will subsequently follow and take place in the sales office or in an attorney’s office.

Please note that additional time for closing is required if the home is an affordable housing unit.

Also if, for some reason, the home is not ready for occupancy, the lender may put the loan aside until the home is ready. At that point, intervention from the underwriting and closing teams may be necessary.

Step 4: Orientation and Inspection

A mandatory homeowner orientation and final home inspection takes place before closing. This normally occurs 24–48 hours prior to the scheduled closing, but sometimes it happens on the same day as the closing. Please allow one to two hours for both items to be completed.

A member of our warranty and customer service team will coordinate this event with you. The orientation and inspection accomplishes a few important tasks:

  • We will show you how to operate your new home’s appliances, windows, thermostat, HVAC and other equipment.
  • We will familiarize you with the location of the mail room, parking areas, and other amenities.
  • We will address maintenance procedures and owner responsibilities related to your new green home.
  • We will familiarize you with your Homeowner’s Association and how it works, as well as their contact information.