Loan Officer Mock Interview
34 Questions Created By Ryan Brown
To help you prepare for your Loan Officer interview, here are 34 interview questions and answer examples.
17.
1. How do you feel when you cannot deliver a loan to a family that desperately wants a new home?
How to Answer
While it is always challenging to tell a family that you cannot deliver a loan to them, you are also protecting them from getting into a bad financial situation that they are not prepared to take on. Tell the interviewer that it can be emotionally challenging to tell a family that you cannot provide them with a loan, but you feel good knowing that you are not setting them up for a bad financial experience.
Written by Ryan Brown
2. What are your weaknesses?
How to Answer
We all have weaknesses, and it is okay to share them! The interviewer may even ensure you receive additional training in these areas to help you be more successful in your career. Pick 1-2 weaknesses that you have that are not primary parts of the loan officer role, and share them with the interviewer. For example, you might share that grammar is not your gift, and people have told you that you do not need to use so many commas in your writing.
Written by Ryan Brown
3. Where would you like to be in your career five years from now?
How to Answer
The interviewer is hoping to hear that you will stay with their company long-term.
If you are currently going to school, share that you hope to stay with the company at least until graduation. Mention what you are going to school for and when you plan to graduate. If the company offers careers in your field of study, such as management, be sure to mention that you would be interested in considering a management opportunity upon graduation.
If you are not a student, that is great! Simply tell the interviewer that you see yourself still working for the company. Next, mention if you hope to receive a promotion at some point. State the title of the position you would like to be in, and mention that you understand it will take time to achieve this level. If it happens within 5 years, that's great! If not, you will continue to learn as much as possible now until the promotional opportunity becomes available.
Written by Ryan Brown
4. What's your ideal company?
How to Answer
Where is the perfect place for you to go to work each day? You do not need to name a specific company. Focus on qualities of an ideal company instead! What type of environment do you hope to walk into each day? What kind of schedule does this company have you work? What is the senior leadership team like? What is their culture? Is it a large company or a small company? What kinds of benefits does this company have? Simply share your vision for the perfect company to work for!
Written by Ryan Brown
5. What attracted you to this company?
How to Answer
The interviewer wants to hear that you are passionate about working at this company. What attracted you to apply? Does the company have a great mission and vision? Do they have the best reputation in your area? Have you heard great things about working for them? Do you have friends who work for the organization? Or, maybe you have had your eye on the company for a while due to their great family oriented lifestyle and excellent benefits. Whatever attracted you, share it with the company. Your passion will automatically come through in an honest response.
Written by Ryan Brown
6. What are you most proud of?
How to Answer
Interviewers like hearing that you feel accomplished in some aspect of your life! It creates a positive attitude in people and gives us a push to continuing accomplishing more. What are you most proud of? Did you receive a major promotion in your last job? Were you the first person in your family to graduate from college? Maybe you completed a triathlon last year or ran your first half marathon. Whatever you are proud of, share it!
Written by Ryan Brown
7. What's the last book you read?
How to Answer
Interviewers like hearing that you read and look forward to learning! Share what book you last read. Did you read a great fiction book on the beach during your last vacation? Or, maybe you read an excellent business book this past month. Maybe you and your spouse have been reading a marriage book together. Simply share what book you last read!
Written by Ryan Brown
8. Do you have any questions for me?
How to Answer
We recommend that you always ask, "Why is this position available?" The interviewer's response will give you great insight into how solid of an opportunity this will be for you. If the past person was promoted, it is probably a good sign! If the past three people left the company, you may want to do some digging to see why loan officers keep leaving the organization. If it is a new position for the company due to growth, that is also a great sign!
Written by Ryan Brown
9. Why do you want to be a loan officer?
How to Answer
What motivated you to become a loan officer? Did you go through a personal loan experience that led you into the field? Did you have a friend or family member who encouraged you to pursue becoming a loan officer? Or, maybe you have always been interested in financial institutions? Whatever led you to become a loan officer, share it with the interviewer.
Written by Ryan Brown
10. Are you willing to travel?
How to Answer
Be open with the interviewer expressing if you are willing and able to travel. Share how often you are willing to travel, and be sure to mention how many overnight stays are acceptable for you each month.
Written by Ryan Brown
11. Are you efficient and organized with paperwork?
How to Answer
Absolutely! The interviewer needs to hear that you have a system for being efficient and staying organized with your paperwork (electronic or hard copy). Tell the interviewer how you keep your paperwork organized. Perhaps you have bins to sort paperwork into. Maybe you utilize file folders. Or, maybe you keep things in a 3-ring binder. Whatever method works for you, share how you operate. Next, share your system for when you complete paperwork. Do you always complete your paperwork first thing in the morning? Do you split it up between morning and end of the day? Share what route you typically take!
Written by Ryan Brown
12. How do you power through and remain focused while finishing paperwork? How important is it to properly complete all paperwork?
How to Answer
Paperwork details (hard copy or electronic) are extremely important! Interviewers need to hear that you are focused on the details, and you recognize how important every aspect of the loan paperwork is. Begin by telling the interviewer that you understand how important the details of the loan paperwork are. Mention how you stay focused. Maybe you set aside a couple of hours at a time where all you do is paperwork. Maybe you shut your office door, so you can stay tuned in. Perhaps you complete all of your paperwork at the same time every day. Whatever tactic works for you, be sure to share it with the interviewer.
Written by Ryan Brown
13. What sales experience do you have?
How to Answer
You will provide the interviewer with an overview of your sales experience by sharing where you worked, your job title, the types of sales you did, and how long you worked there. Be sure to mention that you enjoyed the sales aspect in each of these roles!
Written by Ryan Brown
14. Why is it important to work with the best realtors?
How to Answer
A few solid responses will include:
- The best realtors will sell the most homes resulting in more referrals to you for loans.
- The best realtors work with the highest paying clients; therefore, you will receive the highest dollar amount loans.
- The best realtors know the most people, and it is a great way to receive referrals from other realtors.
Written by Ryan Brown
15. Do you use social networks to generate leads? Do you feel comfortable with this tactic?
How to Answer
Absolutely! Knowing someone who knows someone is often one of the best ways to bring in new clients. Word of mouth is greatly effective, and interviewers want to hear that it works for you. Begin by sharing about a time when someone you knew referred another person to you. Share how you knew the person and why they referred the other person to see you for assistance with a loan. Next, share that social networks are a great means of bringing in additional business, and you can utilize it through referrals or to open doors for you to get introduced to additional people.
Written by Ryan Brown
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