Let’s face it, the mortgage process can be intimidating and frustrating. We know. We get it. We’re right here to help, whether you’re looking to finance your first home, your next home, a vacation home, a piece of property for your future dream home, or refinancing your current home, we want to be there every step of the way. When you finance with Launch FCU, your home loan stays here, and we’re here to answer all your questions face-to-face. All of our mortgages are serviced-in house, this means that we will never sell your mortgage. You may be asking yourself, “How much home can I afford?” You are on the right track. Utilize our mortgage calculator to determine how much home you can afford so that you know where to start your shopping.
Waive Your $400 Mortgage Processing Fee
Limited Time – ONLY Through June 30, 2019, Finance With Launch FCU And We’ll WAIVE THE $400 PROCESSING FEE!*
Home Loans For As Little As 3% Down
Buying your first home is a major investment, and you may not have enough saved up to put down 20% for a down payment on your new home. We are here to help. We can help you unlock doors to your future for as little as 3% down. Apply online today, or call a Home Loan Specialist today at 321-456-5439.
Manufactured/Mobile Home Lending
We are now offering mortgage financing for manufactured housing!
- Members must own the land the home is on and the home must be permanently affixed to the foundation.
- The home must also be declared “real property”.
- Maximum year of the home cannot exceed 1990.
- Max Loan To Value –80% and is determined by age of home and if the loan is a purchase or refinance transaction.
- The minimum credit score is 660 or higher.
- Maximum loan amount = $200,000.
- Escrow is required.
- Home Equity Lines of Credit are not permitted.
| Loan Type (Fixed or Variable) | Fixed |
|---|---|
| Loan Term | 10 years to 30 years |
| Borrowing Parameters | Must be an owner-occupied residential dwelling in the State of Florida |
| Loan Amount | $50,000 to $1,000,000 |
| Loan-To-Value | Up to 97% (lesser of appraised value or sales price) |
| Private Mortgage Insurance | Required if loan to value is more than 80% |
| Down Payment | As low as 3% of sales price* or appraised value, whichever is lower |
View our First Mortgage Information Sheet.
| Loan Type (Fixed or Variable) | Fixed |
|---|---|
| Loan Term | Up to 15 years |
| Loan-To-Value-Ratio | Up to 80% of property value |
| Loan Amount | $10,000 up to $250,000 |
| Annual Percentage Rate=APR (see rates page) |
60 Months: 5.097% APR* 84 Months: 5.322% APR* 120 Months: 5.802% APR* 180 Months: 6.037% APR* 240 Months: 6.280% APR* |
| Closing costs | Varies |
Provides you with a lump sum; excellent for larger home improvement projects, or to pay off high-rate debt. View our Second Mortgage Information Sheet.
| Loan Type (Fixed or Variable) | Fixed |
|---|---|
| Loan Term | Up to 30 years |
| Borrowing Parameters | Must be an owner-occupied residential dwelling in the State of Florida |
| Loan Amount | $50,000 to $1,000,000 |
| Loan-To-Value | 85% if pulling cash out or 90% LTV if you are not pulling cash out |
| Private Mortgage Insurance | Required if loan to value is more than 80% |
| Down Payment | N/A |
| Loan Type (Fixed or Variable) | Fixed |
|---|---|
| Loan Term | Maximum of 10 years |
| Borrowing Parameters | Must be a residential lot in a developed area (must have streets) in the State of Florida |
| Maximum Loan Amount | $5,000 to $100,000 |
| Loan-To-Value | Up to 60% (lesser of appraised value or sales price) |
| Private Mortgage Insurance | No |
| Down Payment | 40% of sales price |
View our Lot Loan Information Sheet.
Apply Now
If you have questions about mortgages, visit our Frequently Asked Questions page. Be sure to also review our First Mortgage Information Sheet, our Second Mortgage Information Sheet, and our Land Loans Information Sheet. If you’re interested in purchasing a condominium, check out our Condo Buyer’s Guide.
Launch FCU Mortgage Centers
A home is one of the single biggest purchases you will make in your lifetime. That’s why we have set up dedicated mortgage centers, where you can sit down, one-on-one with a Launch FCU Home Loan Specialist to speak about your options. Our Mortgage Centers are located at the following Launch FCU Branch locations:
Orange City Branch: 2277 Veterans Memorial Parkway, Orange City
South Daytona Branch: 2290 S Ridgewood Ave, South Daytona
Port St. John Branch: 7347 N Highway US 1, Port St. John
Merritt Island Branch: 415 Fortenberry Road, Merritt Island
Melbourne Branch: 2200 N Wickham Road, Melbourne
Meet the Launch FCU Mortgage Team
Our Home Loan Specialists take the time to sit down with you, show you options and ideas and then take you through the process step by step. We have Home Loan Specialists throughout Brevard and Volusia counties. Visit our Mortgage Centers at our Orange City, S. Daytona, Port St. John, Merritt Island and Melbourne Branches.
