Home Buyer Assistance Programs

Launch FCU 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 Federal Credit Union is open to first time home buyers, first responders, educators, health care workers, and Veterans.

First Time Home Buyers Assistance Program

Launch FCU is proud to offer a first time home buyer program to assist you in purchasing your first home. With Launch FCU’s First Time Home Buyer Assistance Program, you can get up to $5,000 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 FCU would contribute $4,000. If you were to contribute $1,250, Launch FCU would contribute $5,000.family in front of new home

First Time Home Buyer Program Requirements

To qualify for Launch FCU’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 FCU’s First Time Home Buyer Assistance Program? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist.   INFORMATION SHEET

Apply Now

First Responder Home Loan Assistance Program

Launch FCU is grateful for the first responders that risk their lives daily. As such, we are proud to offer a home loan assistance program to help them become homeowners. First responders can receive up to $7,500 towards their down payment, closing costs, or principal reduction. The minimum borrower contribution is $1,000, and the matching subsidy ratio is matching subsidy ratio is 4:1. For example, if you were to contribute $1,500, Launch FCU would contribute $6,000.

First Responder Home Loan Eligibility Requirementsfire fighter in all his gear

To qualify for the First Responder Home Loan Assistance Program, you 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 about Launch FCU’s First Responder Home Loan Assistance Program? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist.   INFORMATION SHEET

Apply Now

Educators Home Loan Assistance Program

Launch FCU acknowledges the importance educators have in our community. That’s why we offer a special Educators Home Loan Assistance Program. With this program, educators in the community can receive up to $7,500 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 FCU would contribute $6,000.

Educators Home Loan Eligibility Requirementsapple sitting on top of a book all in front of a chalk board

To qualify for the educator home loan assistance program, you 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 about Launch FCU’s Educators Home Loan Assistance Program? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist.   INFORMATION SHEET

Apply Now

Health Care Workers Home Loan Assistance Program

Launch FCU values the hard work healthcare workers put in to ensure residents in our local communities receive the best care possible. To help honor those in the healthcare field, Launch FCU offers a unique home loan assistance program to those in the healthcare industry. With this program, educators in the community can receive up to $7,500 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 instance, if you were to contribute $1,500, Launch FCU would contribute $6,000.

Healthcare Home Loan Program Eligibility Requirements

In order to qualify for the Healthcare Home Loan Assistance Program, you must meet income requirements** and be an employee of an accredited or state-recognized medical or healthcare facility. This includes:healthcare worker taking a patient's blood pressure

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

Questions about the Healthcare Home Loan Assistance Program? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist.   INFORMATION SHEET

Apply Now

Veterans Home Loan Assistance Programs

Launch FCU is grateful for all the Veterans who have served our beautiful country. Launch FCU wants to help our veterans become homeowners. That’s why we offer a special home loan assistance program for our nation’s U.S. soldier in front of a United States flagVeterans and returning Veterans.

Veterans Assistance Program

Veterans can receive up to $7,500 towards their down payment, closing costs, or principal reduction assistance. With Launch FCU’s Veterans Assistance Program, there is no minimum borrower contribution and no matching requirement. To qualify for the Veterans Home Loan Assistance Program you must:

  • Meet income requirements.**
  • Be a first-time or non-first-time home buyer that is currently serving or has served in any branch of the U.S. military.***
  • Be a spouse or surviving spouse of someone who is serving or has served in any branch of the U.S. military.***

Returning Veterans Assistance Program

Those who are currently serving or have served in an overseas military intervention environment for any branch of the U.S. military are eligible to receive up to $10,000 towards their down payment, closing costs or principal reduction. There is no minimum borrower contribution and no matching requirement. The Returning Veterans Home Loan Assistance Program is also open to spouses and surviving spouses of those who have served in an overseas military intervention environment for any branch of the U.S. military.***

Questions about the Veterans Home Loan Assistance Program? Give us a call at 321-456-5439 to speak with a helpful Home Loan Specialist.   INFORMATION SHEET

Apply Now

Additional Program Requirements

In addition to meeting income eligibility requirements, the homebuyer must:**

  • Meet income requirements.**
  • Contribute at least $1,000 toward the purchase of the home (excludes Veterans Programs).
  • Occupy the home as a primary resident for at least five years.
  • Complete a homebuyer education and financial literacy course specified by FHLBank Atlanta.
*

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,

***

Up to $7,500 Down-payment, closing-cost,and principal reduction assistance for a first-time or non-first-time homebuyer that is currently serving or has served in any branch of the U.S. military, their spouse, or their surviving spouse, Up to $10,000 Down-payment, closing-cost, and principal reduction assistance for a first-time or non-first-time homebuyer that is currently serving or has served in an overseas military intervention environment for any branch of the U.S. military, their spouse, or their surviving spouse •Listings of overseas military intervention environments can be found at http://academic.evergreen.edu/g/grossmaz/interventions.html. U.S. military is made up of the five armed service branches: Air Force, Army, Coast Guard, Marine Corps, and Navy •National Guard Reservists are eligible if they have served: •in ‘active duty’ •performed services in active duty •injured in active duty

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