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.
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, give us a call at 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard) or come visit us at any one of our convenient branch offices. We’ll be happy to talk about your mortgage options based on what you’d like to achieve.
For Mortgage Tips for a Smooth Purchase or Refinance, Click HERE
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
A mortgage for property in which you do not live is considered a non-owner occupied mortgage. If you intend to rent out the property, then the mortgage is classified as non-owner occupied.
Launch offers a non-owner occupied mortgage for investors with 1-4 investment properties. Contact our mortgage team at 321-456-5439 to find out more about this investment mortgage solution.
For more information, CLICK HERE
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.
