The church had no issue with the basis of the Heliocentric model. Copernicus, after all, was part of the clergy.
Not in itself. They had problems with some assumptions and implications around it, though.
However, it is likely that it would fly more easily in AD 1500 than it did around 1630.
Another interesting point is that this would likely lead to a stronger interchange with the then vibrant astronomical and optical knowledge in the Near East. The consequences of
that are potentially
very huge (think of an equivalent of the Scientific Revolution occurring in connection in the Europe, Western Eurasia and North Africa).
Another interesting factor is that much better astronomy in the fiteenth century could likely make more precise measurements about the dimension of Earth more available. This means that "official" contact of America may be significantly delayed.
However, I am not sure that optical theory and glassmaking technology avalaible in 1400 in Europe can be up to the task (according to Paul Feyerabend, IOTL optics in 1600 was not advanced enough to fully theorize telescopes even after Galileo had built one; going by Brecht's
Lebens des Galileo, the glassmaking involved was cutting-edge to the point that Galileo had some serious trouble getting the lenses he needed. I admit that Brecht is not exactly an academic source).