In this episode of The Jones zone, Darryl Jones sits down with Joe Omahen, a mortgage banker of Cornerstone First Bank (Mortgage Bank). Darryl discusses with Joe about the debt to income ratio, the mistake of spending after being pre-approved, impact of AI, and how to leverage your money using your credit, the maximum amount of a loan, and if rates are going to go lower.

Episode Highlights:

• Difference between a mortgage banker and mortgage broker.
• Difference between pre-approval and pre-qualification.
• How credit has an effect on getting a mortgage.
• Debt to income ratio.
• Spending after being pre-approved.
• Running your credit doesn't lower.

Key Questions Asked:

• What is the difference between a mortgage banker and mortgage broker?
• What is the difference between pre-approval and pre-qualification?
• Does credit have an effect on getting a mortgage?
• What is debt to income ratio?
• Should you spend after being pre-approved?
• Does your credit go lower if it's ran?
• Has AI affected the industry?
• What is Fannie Mae and Freddie Mac?

Guest Information:

Cornerstone First Bank

Joe Omahen - jomahen@cfmtg.com

Contact Darryl: 

Darryl & JJ Jones Real Estate 

Email: darrylandjj@gmail.com 

Phone: (714) 713-4663