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Launch Credit Union

MERRITT ISLAND, FL

Launch Credit Union processed 1,330 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 494 loans with a 46.2% denial rate. Cash-out Refinancing was the primary loan purpose. Based in MERRITT ISLAND, FL. The approval rate of 37.1% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Launch Credit Union's 37.1% origination rate tells you how often an application turned into funded money; the 46.2% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Collateral, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,330 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

1,330
Applications
494
Originated
46.2%
Denial Rate
$95,556
Avg Loan Amount
Avg Interest Rate: 7.613% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,330 494 615 $95,556

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Launch Credit Union (LEI: 54930029L79O0A2ZXF27) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
354
Collateral
196
Credit history
191
Other
25
Employment history
15
Unverifiable information
10
Credit application incomplete
8
Insufficient cash
6

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Cash-out Refinancing 1,235 450 $82,700
Home Purchase 84 42 $274,048
Refinancing 11 2 $175,909

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 1,019 40.7% 43.3%
Black or African American 133 20.3% 64.7%
Joint * 35 31.4% 48.6%
Asian * 26 23.1% 46.1%
Native Hawaiian or Other Pacific Islander * 14 21.4% 64.3%
American Indian or Alaska Native * 5 40.0% 20.0%
2 or more minority races * 3 0.0% 66.7%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 1,064 38.0% 46.0%
Hispanic or Latino 139 31.6% 50.4%
Joint * 34 41.2% 38.2%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Nearby Lenders in FL

Other HMDA-reporting lenders in FL with similar activity. Compare any two side-by-side.

Freedom Mortgage Corporation

BOCA RATON, FL

252,504 apps 57,345 originated 4.9% denied

Lakeview Loan Servicing, LLC

Coral Gables, FL

96,650 apps 10,540 originated 25.2% denied

Triad Financial Services, INC.

JACKSONVILLE, FL

86,581 apps 12,731 originated 55.6% denied

Lennar Mortgage, LLC

MIAMI, FL

75,233 apps 55,530 originated 12.4% denied

Phh Mortgage Corporation

West Palm Beach, FL

62,326 apps 4,770 originated 3.4% denied
Compare Launch Credit Union vs Freedom Mortgage Corporation →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Launch Credit Union process?
Launch Credit Union processed 1,330 mortgage applications in the 2024 HMDA reporting year. Of these, 494 were originated (approved and funded), 38 were withdrawn by the applicant, and 615 were denied.
What is Launch Credit Union's mortgage approval rate?
Launch Credit Union has an approval (origination) rate of 37.1%, meaning 37.1% of all applications resulted in a funded mortgage. The denial rate is 46.2%.
What is the average loan amount at Launch Credit Union?
The average mortgage loan amount at Launch Credit Union is $95,556. The average interest rate is 7.613%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at Launch Credit Union?
The most common reasons for mortgage denial at Launch Credit Union are: Debt-to-income ratio, Collateral, Credit history. In total, 615 applications were denied out of 1,330 total applications.
What types of mortgage loans does Launch Credit Union offer?
Launch Credit Union processes Conventional loans. The most common type is Conventional with 1,330 applications and an average loan amount of $95,556.
What loan purposes does Launch Credit Union serve?
Launch Credit Union serves the following loan purposes: Cash-out Refinancing (1,235 applications), Home Purchase (84 applications), Refinancing (11 applications). Cash-out Refinancing is the most common purpose.
Where is Launch Credit Union located?
Launch Credit Union is headquartered in MERRITT ISLAND, FL. The lender is identified by LEI 54930029L79O0A2ZXF27 in HMDA data.
How does Launch Credit Union compare in lending across racial demographics?
Launch Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 40.7% and denial rate of 43.3%; Black or African American applicants have an approval rate of 20.3% and denial rate of 64.7%; Joint applicants have an approval rate of 31.4% and denial rate of 48.6%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.