The Furlong Team is a Platinum Minnesota Housing lender, the highest distinction in the mortgage industry. We offer both home purchase and refinance programs and are experts at down payment assistance lending




MN Housing Down Payment Assistance Mortgage programs

What is Minnesota Housing Finance? 
A Minnesota statewide down payment assistance program, it assists us in helping our clients find the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence. The first mortgage loans are combined with two down payment assistance loan programs: the deferred payment loan and the monthly payment loan. Eligible applicants may utilize the programs to purchase a new home or refinance an existing home. The Minnesota Housing Finance Agency has served to provide access to safe, decent and affordable housing for more than 40 years. With partner lenders like the Furlong Team at SWBC Mortgage, we’ve worked to build stronger communities across the state. In 2017, the agency invested $1.12 billion and assisted more than 69,000 households.

MN Housing Downpayment Assistance Mortgage CompanyWho may apply for this program?
Applicants must:

  • Meet income-eligibility
  • Agree to personally occupy the dwelling as their primary residence
  • Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien
  • Have the legal capacity to incur the loan obligation
  • Have not been suspended or debarred from participation in federal programs
  • Demonstrate the willingness to meet credit obligations in a timely manner
  • Purchase a property that meets all program criteria

How it Works

From first-time buyers to current homeowners, the Furlong Team at SWBC Mortgage, in combination with MN Housing, has an affordable loan program to meet your needs. Follow these steps to get started:

1. Get pre-approved

You will want an expert on your team to help with this process. Many lenders do not participate in Minnesota Housing programs, or they are unfamiliar with the underwriting requirements. The Furlong Team at SWBC Mortgage is a Platinum Lending Partner which means we help more home buyers and homeowners than most other lenders in Minnesota. We are one of only a handful of lenders to be on this list for the past 5 years. We will start with a conversation around your unique circumstances, review approval details and program options. Once approved, you can start working with a Realtor to submit an offer on your home, but we strongly recommend two more steps before you start looking.

2. Attend homebuyer education

If you’re planning to purchase a home, homebuyer education or counseling is a great place to start. Your homeownership advisor will teach you about the process, answer your questions, and help you make smart decisions. Homebuyer education is required for some of our loan programs. Learn more about available online and in-person options. Online homebuyer education class can be found here: Framework

3. Learn more about Minnesota Housing’s loan options

All borrowers must qualify for an underlying mortgage product (FHA, VA, RD, Conventional). Minnesota Housing loan programs are then layered on top to provide you with additional benefits. If eligible, you can also add a downpayment and closing cost loan when you receive a Minnesota Housing loan.

I’m a first-time homebuyer (or have not owned a home in the past three years):

I’m a repeat homebuyer (currently own or owned in the past three years and want to buy a different home):

I want to refinance my home:

4. Find a home

If you’re purchasing, work with a real estate professional to find the right home for you. The home you purchase or refinance must fall within the following purchase price limits:

11-County Metro: $448,500
Balance of State: $420,680

You’ll also want to get a home inspection before you purchase. This process will be covered in your homebuyer education course.

5. Mission accomplished!

Finish up the paperwork, close on your loan, grab those keys, and celebrate your accomplishment!

How do we get started?
To apply for this program, please submit a request for preapproval to get started online.

Our team has extensive training in Minnesota Housing programs, is a Platinum Lending Partner, and is ready to help everyone with a desire to become a homeowner!