Home / FHLBI Launch Program

Down Payment Assistance Program

The FHLBank Launch is a special purpose credit program that provides up to $20,000 in assistance for down payment, closing and counseling costs to first-time homebuyers purchasing a home in Michigan.

check Qualifications play_arrow Interested?

Qualifications

First-time homebuyers intending to purchase a primary residence in Michigan who:

• Meet household income requirements (capped at 80% area median income)
• Have $500 to contribute towards the home purchase (appraisal fee can be applied)
• Are purchasing an Eligible Property Type: Single Family Homes, Townhouses, Condominiums (subject to lender approval)
• Are Pre-Approved by our mortgage company, Mortgage Center
• Complete pre-purchase homebuyer education**
• Are CFCU members currently, or will become a member prior to closing

When does the FHLBI Launch Program Start?

The program opens April 14, 2026 with $7.9 million available in grants.

Households will be assisted on a first-come, first-served basis until funds are exhausted.

Please fill out the form below. This is not an official application — just a quick way for us to determine if you may qualify for down payment assistance. If you meet the criteria, a representative from our partner, Mortgage Center, will contact you.

First Name
Last Name
Email
Phone
Street
City
State/Province
Zip
What is your household income?
How many people live in your household?
Are you a first-time homebuyer? --None-- Yes No
By submitting your phone number, you are providing express written consent for Mortgage Center LC and its affiliates, agents, and service providers to contact you at that number regarding products or services, including via auto-dialed and/or prerecorded or artificial voice calls and text messages (SMS and MMS). You may also reach Mortgage Center at 800-353-4449 and we can assist you. Your consent is not required or a condition of any purchase. Message and data rates may apply. Mortgage Center is an Equal Housing Lender, NMLS# 282701.

*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. **Housing Counseling Requirements: May only provide Launch funds to households that complete a homebuyer or homeowner counseling program provided by, or based on one provided by, an organization experienced in homebuyer or homeowner counseling, A completion certificate must be provided showing the date of completion, provider of the training and any certifications the program may have obtained. Counseling must take place before closing and generally not more than one year earlier than the enrollment date. Launch funds may be used to pay housing counseling where counseling fees have not been covered by another funding.  

Mortgage Center is an Equal Housing Lender, NMLS# 282701.