Honor Credit Union Helps Members Through Homebuyer Assistance Program

Honor Credit Union Announces Participation in Launch – Down Payment Assistance Program 

BERRIEN SPRINGS, MICHIGAN— March 28, 2025—Honor Credit Union is excited to announce its  participation in the Launch – Down Payment Assistance program, an initiative designed to help first-time  homebuyers achieve their dream of homeownership. This annual program, offered in partnership with  the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), provides financial assistance of up  to $20,000 in assistance for down payments, closing costs, and housing counseling to qualified buyers in  our communities. 

Funding for the program opens on April 15, 2025, 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. 

The Launch – Down Payment Assistance program provides grants to help cover essential home-buying  costs, making homeownership more accessible. To qualify, applicants must: 

• Be a first-time homebuyer 

• Have a household income at or below 80% of the Area Median Income (AMI) • Contribute a minimum of $500 toward the home purchase 

• Complete a homebuyer counseling course 

The Launch – Down Payment Assistance Program reflects Honor Credit Union’s dedication to prioritizing  its member-owners and supporting them in reaching their financial and life goals—especially the dream  of homeownership. 

“One of the main barriers to homeownership is coming up with a down payment. For eligible  borrowers, one of our down payment programs helps break down this barrier.” Said Kim O'Donoghue,  Honor Credit Union AVP of Real Estate Sales. “The funds can be used for down payment, closing costs,  and prepaid expenses. With the cost of rent soaring, now is a good time for prospective borrowers to  reach out to one of our mortgage loan officers to see if they qualify for one of our grant programs. Some  of the funds are limited, so I encourage you to call us today!” 

Prospective homeowners can access Launch funds by working with Honor Credit Union, an approved  participating financial institution. 

For more details on the Launch – Down Payment Assistance program, visit  

www.honorcu.com/mortgage/homebuyer-assistance or contact an Honor Credit Union mortgage  lending expert. 

ABOUT HONOR CREDIT UNION 

Honor Credit Union is a non-profit, full-service financial institution serving over 110,000 members in 28  branch locations throughout western and northern Michigan. Providing solutions for financial success  and giving back to the communities we serve remain the driving forces behind Honor Credit Union. For  more information, call 800.442.2800, or visit www.honorcu.com.