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Home Loan Assistance Programs

Home Loan Assistance Program

Launch CU is proud to offer a home loan assistance program to help those in our local community become homeowners. This exclusive home loan program from Launch Credit Union provides funding up to $15,000 and is open to the following:

  • First-time home buyers: available to homebuyers with household incomes at or below 80 percent of Area Median Income (AMI)
  • First-time or non-first-time home buyers: available to homebuyers with household incomes between 80.01 – 120% of Area Median Income (AMI)
  • Community Partners (including current or retired law enforcement officers, educators, health care workers, firefighters, and other first responders; veterans and active-duty members of the military or their surviving spouse)

Funds can be used for:

  • Reducing principal
  • Assisting in down payments and closing costs.

Questions about Launch CU’s Home Buyer Assistance Program? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist. 

Income Limits Calculator
Couple holding up keys to their new home
Man lifting woman in new home- first-time homebuyers

Home Buyers Assistance Program

Launch CU is proud to offer a home buyer program to assist you in the purchase of your home.

First-time home buyers

With Launch CU’s First-Time Home Buyer Assistance Program, you can get up to $12,500 towards your down payment or closing costs or utilize the funds to reduce your principal. 

This program is available to homebuyers with household incomes at or below 80 percent of Area Median Income (AMI)

First-time or non-first-time home buyers

With Launch CU’s First-Time or Non-First-Time Home Buyer Assistance Program, you can get up to $15,000 towards your down payment or closing costs or utilize the funds to reduce your principal. 

This program is available to homebuyers with household incomes between 80.01 – 120% of Area Median Income (AMI)

Questions about Launch CU’s Home Buyer Assistance Program? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist. 

Apply Now

First-Time Home Buyer Requirements

To qualify for Launch CU’s First-Time Home Buyer Program, you must meet the definition of a first-time home buyer as defined by HUD HOC,* and meet income requirements.**

  • You have had no ownership in a principal residence during the 3-year period ending on the date of the property purchase.
  • You are a single parent who has only owned a home with a former spouse while married.
  • You are a displaced homemaker who has only owned a home with a former spouse.
  • You have only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
  • You have only owned a property that was not in compliance with state, local, or model building codes and which cannot be brought into compliance for less than the cost of construction a permanent structure.

Questions about Launch CU’s First Time Home Buyer Assistance Program? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist. 

Apply Now Income Limits Calculator
Family moving into their new home
Family moving into new home

Community Partners Home Loan Assistance Program

Launch CU acknowledges the importance of our community partners. That’s why we offer a special Community Partners Home Loan Assistance Program. With this program, community partners can receive up to $15,000 towards their down payment, closing costs, or principal reduction. 

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Educator Eligibility Requirements

To qualify for the Community Partners Home Loan Assistance Program, an educator must meet income requirements** and one or more of the following:

  • You are a current or retired educator (Including teachers, teachers’ assistants, bus drivers, or anyone in the public or private school system).*
  • You are an employee of an accredited state-recognized private or public school.
  • You are a certified teacher or administrator in an education agency.
  • You are an employee of a post-secondary level education institution.

Questions? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist.

Apply Now Income Limits Calculator

First Responder Eligibility Requirements

To qualify for the Community Partners Home Loan Assistance Program, a first responder must meet income requirements** and one or more of the following:

  • You are an employee of a law enforcement agency or fire department administered by a state or local government.
  • You are a sworn law enforcement officer responsible for crime prevention and detection or criminal incarceration.
  • You are a sworn member of a fire department involved in fire suppression or prevention, emergency medical response, hazardous material incident response, or management/response to terrorism.
  • You are currently employed as any other type of first responders such as an emergency medical technician or National Guard or Reservist.*

Questions? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist.  

Apply Now Income Limits Calculator

Healthcare Worker Eligibility Requirements

In order to qualify for the Community Partners Home Loan Assistance Program, a healthcare worker must meet income requirements** and be an employee of an accredited or state-recognized medical or healthcare facility. This includes:

  • Medical residents or fellows
  • Nurses
  • Nursing Assistants
  • Pharmacists
  • Pharmacy Technicians
  • Physician’s Assistants
  • Medical Assistants
  • Medical Technicians
  • Technologists
  • Therapists

Questions? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist. 

Apply Now Income Limits Calculator
healthcare worker taking a patient's blood pressure
Active Duty Military hugging spouse

Military Eligibility Requirements

In order to qualify for the Community Partners Home Loan Assistance Program, an individual must meet income requirements** and one of the following:

  • A veteran of the United States Military
  • An active-duty member of the United States Military
  • A surviving spouse of a member of the United States Military

Questions? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist. 

Apply Now Income Limits Calculator
Visit any branch location to open your account. For questions call 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard).
*

Down-payment, closing-cost, and principal reduction assistance for first-time or non-first-time homebuyers. Eligible Borrowers include: Retired or current employee of an accredited or state-recognized private or public school •Certified teacher or administrator in an education agency •Employee of a post-secondary level educational institution. Police Officers/ Firefighters/ First Responders •Employee of a law enforcement agency or fire department administered by a state or local government •Sworn law enforcement officer responsible for crime prevention and detection or criminal incarceration •Sworn member of a fire department involved in fire suppression or prevention, emergency medical response, hazardous materials incident response, or management/response to terrorism •Any other first responder, such as an emergency medical technician or National Guard or Reservist Health Care Workers •Certified, accredited, or licensed health care worker including:•Medical resident or fellow •Nurse •Nursing assistant •Pharmacist •Pharmacy technician •Physician’s assistant •Medical technician •Technologist •Therapist •An employee of an accredited or state-recognized medical or health care facility.

**

Household eligibility requirements for First-Time Home Buyer Assistance Program include: •Household income must be at or below 80 percent of the county area median income, or the state median family income, adjusted for family size as published by HUD (whichever is higher), •Complete FHLBank Atlanta’s homebuyer counseling program provided by ClearPoint, a division of Money Management International ($275 cost paid for by Launch CU), •Contribute to the product’s matching requirement (not applicable for Veterans Products), –Minimum $1,000 contribution. •No more than $250 cash back at closing. •Sign AHP Homeowner Assistance note and security instrument, understand that failure to own and occupy the property for five years could result in the recapture of funds on a pro rata basis. Minimum five-year term, fully amortizing.

***

Household eligibility requirements for First-Time or Non-First-Time Home Buyer Assistance Program include: •Household income must be between 80.01 – 120% Area Median Income (AMI), or the state median family income, adjusted for family size as published by HUD (whichever is higher), •Complete FHLBank Atlanta’s homebuyer counseling program provided by ClearPoint, a division of Money Management International ($275 cost paid for by Launch CU), •Contribute to the product’s matching requirement (not applicable for Veterans Products), –Minimum $1,000 contribution. •No more than $250 cash back at closing. The subject property must be purchased as a primary residence. Fixed-rate mortgages are eligible • Adjustable-rate mortgages are eligible with certain parameters • Balloon mortgages that have minimum 10-year balloon end date.

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