When buying a home, finding the right mortgage means understanding a lot of complicated financial terminology. According to the Consumer Financial Protection Bureau, one of these terms is the interest rate, which is “the cost of borrowing money over time.” Interest rates can vary based on the type of loan, how long the loan term is, and your credit score. In addition, interest rates also can vary depending on where you live since interest rates change based on the market. An interest rate on a mortgage is the cost (or cost to borrow) associated with borrowing funds. There are many different types of interest rates, such as fixed interest rates,…