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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 $10,000 and is open to the following:

  • First time home buyers
  • Community Partners (including current or retired law enforcement officers, educators, health care workers, firefighters, COVID-19 related essential workers, 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, closing costs, rehabilitation costs.
  •  
Income Limits Calculator
Couple holding up keys to their new home
Man lifting woman in new home- first-time homebuyers

First Time Home Buyers Assistance Program

Launch CU is proud to offer a first-time home buyer program to assist you in purchasing your first home. With Launch CU’s First Time Home Buyer Assistance Program, you can get up to $7,500 towards your down payment or closing costs or utilize the funds to reduce your principal. The minimum you must contribute to receive assistance is $1,000, and the matching subsidy ratio is 4:1. So for instance, if you contribute $1,000, Launch CU would contribute $4,000. If you were to contribute $1,250, Launch CU would contribute $5,000.

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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 $10,000 towards their down payment, closing costs, or principal reduction. The minimum borrower contribution is $1,000, and the matching subsidy ratio is 4:1. For example, if you were to contribute $1,500, Launch CU would contribute $6,000.

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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.  

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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

Essential Worker Eligibility Requirements 

In order to qualify for the Community Partners Home Loan Assistance Program, an individual must be classified as “Essential” as determined by the State/Federal Executive Orders***: 

  • Healthcare Employees 
  • First Responders 
  • Food/Agriculture Employees 
  • Water & Sanitation 
  • Transportation & Logistics 
  • Public Workers 
  • Manufacturing 
  • Communication/Information Technology 
  • Community based government operations & essential functions 
  • Financial Services 
  • Hazardous materials management employees 
  • Defense industrial base employees 
  • Chemical management employees 

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

Apply Now Income Limits Calculator
Essential workers
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 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 ($200 cost to applicant), •Contribute to the product’s matching requirement (not applicable for Veterans Products), –4-to-1, –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.

***

***COVID 19 Essential Workers Eligibility - determined by the Executive Orders of the State and Federal Government at time of application.  

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