First-Time Homebuyer Down Payment Assistance
Take a joyful step toward homeownership.
At Members First Credit Union, we believe homeownership is more than a milestone—it’s a meaningful step toward building a life you love. That’s why we’re excited to offer the Launch Down Payment Assistance program, designed to help first-time homebuyers move forward with confidence.
In partnership with the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), this annual program provides up to $20,000 in assistance* to help cover down payments, closing costs, and housing counseling—making the path to homeownership more accessible for our community.
Funding opens April 14, 2026, and is available on a first-come, first-served basis. Eligible first-time homebuyers who meet the program’s requirements are encouraged to apply early to take advantage of this opportunity.
Through the Launch Down Payment Assistance program, qualified buyers can receive grant funds to help cover essential home-buying costs. To be eligible, applicants must:
- Be a first-time homebuyer intending to purchase a primary residence in Michigan
- Have a household income at or below 80% of the Area Median Income (AMI)
- Contribute a minimum of $500 toward the home purchase
- Not allow total housing debt to exceed 40% of total household gross income
- Complete an approved homebuyer education course
This program reflects our commitment to empowering our members with the resources, guidance, and support they need on their journey to financial well-being. Because when you have the right tools and support, you can move forward with purpose—and find joy in every step along the way.
To learn more about the Launch Down Payment Assistance Program and check your eligibility, reach out to our mortgage team today at 855.835.6328 ext. 1750.
*If a Launch-assisted home is sold or refinanced within the five-year retention period, a portion of the grant funds received may need to be returned.
Subject to credit approval. Other qualifying restrictions may apply.
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