There are several mortgage lenders in Clearwater, like The Mortgage Center at 28901 US Highway 19 N, Clearwater, FL 33781 or Wachovia Bank, 2301 Sunset Point Rd, Clearwater, FL 33765. When you meet with your loan officer, explain what you are hoping for in a loan and ask questions about anything you do not understand. A first time buyer will have a lot more questions than someone who bought houses before, but there have been changes in the laws, so even experienced homebuyers should check carefully to get the right loan.
Your loan officer will need to know your financial situation before he can make recommendations about the loan that is best for you. A fixed interest rate stays the same for the term of the loan while the adjustable interest rate can change so make sure you understand how often and how much that can be.
The third party fees the lender has to pay to put this loan together, such as the appraisal fee, title policy expenses and the Yield Spread Premium, will be included in your loan amount. The Yield Spread Premium is paid to the loan officer and you may be able to negotiate the amount at the initial discussion. Discount points go towards buying the interest rate down and are tax deductable; however, some lenders also charge a loan origination fee, which is not tax deductable. It is best to have a list with questions you have as well as the monthly payment you are comfortable with when you interview your loan officer.