Answers by Jack Cutrone

Yes—if your mortgage note says 4.75% fixed for the life of the loan, the end of the buydown does not trigger a market-rate reset. Technically, your rate is already 4.75%. The 2-1 buydown temporarily subsidizes your payments: - Months 1–12: You pay an amount based on 2.75%. - Months 13–24: You pay an amount based on 3.75%. - Month 25 onward: You pay the full principal-and-interest payment at 4.75%. That is how a standard temporary buydown works: the subsidy ends, and you take over the full contractual payment. singlefamily.fanniemae.com Your total monthly bill can still change if property taxes, homeowners insurance, or escrow adjustments increase. With new construction, watch particularly for a tax assessment that begins including the completed house instead of just the land. Based on what you described, your understanding is correct: the scheduled payment steps up to the full 4.75% payment, and the fixed rate stays there.