Everyone wants to find the perfect home, but that comes with a mortgage and other complexities. When choosing a home loan, one of the most important considerations is the interest rate. The interest rate on a home loan is the percentage of the principal amount that the lender charges the borrower for using the principal amount. The interest rate charged by banks and other non-financial entities determines the cost of a home loan. Let's go over a few of these strategies for lowering your mortgage interest rate.