Everyone wants to find the perfect home, but that comes with a home loan and certain complexities. When choosing a home loan, one of the most important factors is the interest rate. The interest rate on a home loan is the proportion 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 institutions determines the cost of a home loan. Let's go over a few of these mortgage-interest-cutting strategies.