AeroPlains Highlights Lower First-Year Payments with 3.875% Mortgage Rate
Homebuyers looking for relief from today’s higher borrowing costs have a new option to consider at AeroPlains, where a special mortgage promotion is advertising a 3.875% first-year rate through a 2/1 buydown program offered with Cornerstone First Mortgage. The first-year rate is well below the current national average for a 30-year fixed mortgage, which Freddie Mac reported at 6.46% in its latest weekly survey released just before April 6.
According to the promotional materials, the program is being shown on a $249,000 purchase price and is structured to reduce the buyer’s rate during the first two years before moving to the full fixed rate for the remainder of the loan term. The advertised breakdown shows:
Year 1: 3.875% rate, 5.7% APR, estimated $1,142 monthly principal, interest and PMI payment
Year 2: 4.875% rate, 6.4% APR, estimated $1,294 monthly principal, interest and PMI payment
Years 3-30: 5.875% rate, 6.6% APR, estimated $1,446 monthly principal, interest and PMI payment
The materials also estimate total savings of $5,490 over the first two years.
That is the real draw here. In a market where mortgage rates remain elevated, a first-year note rate of 3.875% gives buyers a significantly lower entry payment, helping create breathing room during the early years of homeownership. Even the loan’s 5.875% permanent rate shown in the promotion still sits below Freddie Mac’s latest national average of 6.46% for a 30-year fixed mortgage, making the offer stand out in a market where affordability has remained a major obstacle for many buyers.
2/1 BUYDOWN FOR A $249,000 PURCHASE PRICE
| YEAR | RATE | APR | MONTHLY P&I + PMI PAYMENT |
| YEAR 1 (0-12 MONTHS) | 3.875 | 5.7% | $1,142 |
| YEAR 2 (13-24 MONTHS) | 4.875 | 6.4% | $1,294 |
| YEAR 3 TO 30 (25-360 MONTHS) | 5.875 | 6.6% | $1,446 |
TOTAL SAVINGS OVER FIRST TWO YEARS: $5,490
“Scenario is an estimate only and is based on 740+ FICO score and a 2/1 buydown on a loan amount of $219,000, at a 96.5% LTV, 30 year agreement (360 months). Monthly payments are estimates and include principal, interest & PMI, but do not include taxes, insurances, or HOA fees (if applicable) and actual payment obligation will be greater. Rates effective 03/23/26. 2/1 Buydown Program: Rate reduction up to 2%; buy down rate for up to 2 years; builder can pay for buy down; adjusts 1% each year; returns to original fixed rate after buy down period. Please reverify the buydown costs prior to closing. *5.5% rate is based on a builder paid forward commitment to buydown the market rate (1 point = 1% of the loan amount). The actual number of points paid will vary and will be determined based on the amount necessary to lower the market rate to 5.5% at the time of rate lock. The forward commitment may not be available on all loan programs and is subject to availability of funds, which is confirmed with a full loan approval and rate lock in. Homes must close prior to forward commitment expiration to qualify; see your builder representative for further details on expiration terms. This forward commitment requires a minimum credit score of 740 for Conventional loans.”