Episode 69

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Published on:

13th Jan 2025

Does a Mortgage Really Affect Your Credit Score? [Show 165]

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

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About the Podcast

The Jones Zone
Podcast Presented by Darryl and JJ Jones
Tune in to The Jones Zone: The top real estate podcast for anyone looking to grow their real estate knowledge! With over 30 years of real estate experience, Darryl Jones aims to help people solve their biggest problems, and accomplish their home ownership goals. Whether it's obtaining the highest prices for his sellers, providing his listeners advice that is actionable in today's market, or just simply connecting by way of authentic conversation, Darryl's witty personality, and down-to-earth character are sure to encourage and uplift, while also being informative and entertaining. Whether you're a first-time homebuyer, or someone just looking to learn more about being a homeowner, The Jones Zone will help you take your real estate game to the next level!

About your host

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Darryl Jones

For over three decades, Darryl Jones has been a trusted advocate in real estate, helping individuals achieve homeownership dreams. His vision is to provide valuable and impactful content that resonates with listeners in Southern California and beyond.