Question

what is a 30 year mortgage at 4% with 2 points
GPT 3.5
A 30-year mortgage at 4% with 2 points means that the borrower will be charged an upfront fee equal to 2% of the total loan amount (points) in addition to an annual interest rate of 4%. The points are typically paid at the time of closing and can be seen as prepaid interest to lower the interest rate over the life of the loan.