Launch: 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.

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.

Qualifications:

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

  • First-time homebuyers purchasing a home in Michigan
  • Household income requirements (capped at 80% area median income)
  • Must have $500 to contribute towards the home purchase (appraisal fee can be applied)
  • Eligible Property Types: Single Family Homes, Townhouses, Condominiums (subject to lender approval)
  • Pre-Approved by our mortgage company, Mortgage Center
  • Complete pre-purchase homebuyer education
  • Must open a CFCU account prior to closing.
Launch Interest Form
Please fill out the below form. This isn’t the official Launch application—just a quick way for us to gather interest and share more details with you! Someone from Mortgage Center will reach out to you for more information.
*Subject to lender approval.
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.