Which condition does NOT trigger a payment change date?

The condition of an annual increase in property taxes does not trigger a payment change date in the context of mortgage loans. Payment change dates are typically associated with factors directly related to the terms and structure of the mortgage itself, such as the end of a fixed-rate period, changes in the interest rate, or modifications to the loan terms. These conditions directly affect how much the borrower owes in principal and interest over the course of the loan.

In contrast, while property taxes can impact a borrower's total monthly payment (especially if they are included in an escrow account), they do not normally prompt an official payment change date. The payment change date is specifically aligned with elements intrinsic to the loan agreement rather than external factors like taxes, which can change based on assessments by local authorities but don’t alter the obligations defined in the loan’s original terms.