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Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP)

Franklin-Vance-Warren Opportunity, Inc. · Henderson, North Carolina

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Assistance

$50,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Deferred

No payments until the home is sold or refinanced

What is Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP)?

Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP) is a deferred second loan for homebuyers in Henderson, North Carolina, administered by Franklin-Vance-Warren Opportunity, Inc.

  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from NCHFA Community Partners Loan Pool (CPLP).

How much assistance does it provide?

Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP) offers up to $50,000 in assistance.

  • Amounts are the program's published maximums, not an offer — Franklin-Vance-Warren Opportunity, Inc. determines any individual award.

Do you have to pay it back?

Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • The assistance is recorded in second position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP) sets its eligibility rules through Franklin-Vance-Warren Opportunity, Inc., and does not restrict applicants to first-time buyers.

The program requires

  • A completed homebuyer education course
  • Must be combined with NC Home Advantage Mortgage or USDA Section 502 Direct loan. Requires 6 hrs homebuyer education + 2 hrs one-on-one pre-purchase counseling. Amount: lesser of 25% of sales price or $50,000. Serves Franklin, Granville, Vance, Warren counties.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP) limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% of Area Median Income.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP) can be used for single_family, townhouse, and condo.

Where does it apply?

Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP) is a federal program, so it is not limited to North Carolina.

How do you apply?

Applications for Franklin-Vance-Warren Opportunity Down Payment Assistance (CPLP) go through Franklin-Vance-Warren Opportunity, Inc., which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact Franklin-Vance-Warren Opportunity, Inc. to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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