With any job interview, we recommend that you visit the company website before arriving at your interview to learn a few key facts about the organization. Focus on their mission & vision, history, and any recent company news. Also, take note of the services that they offer. When the interviewer asks you this question, simply state 4-5 key facts that you learned from the website.
Loan Officer Interview Questions
What do you know about this organization?
Why are you the best person for this job?
Talking about ourselves in this way can be challenging. We recommend reaching out to a few colleagues, family members, and friends. Ask them for their opinion. You'll probably be surprised at the consistency in their responses! Their answers will give you insight into how to answer this question. Tell the interviewer what sets you apart, and explain how your co-workers, family members, and friends have encouraged you with your gift in this area.
Do you have any questions for me?
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!
"Why is this position available?"
Tell me about yourself.
A few work-related facts plus a few fun personal facts are a great approach to answering this question. Start off by sharing where you are originally from. If you went to college, share where you attended school as well as what degree you received. Next, mention the names of the past 2-3 companies you have worked for as well as your job titles in each role and how long you were employed with each place. Finally, mention a few fun things about yourself sticking with pets, hobbies, your kids, and any fun hidden talents you might have.
"I have three beautiful children, and we spend a lot of time at the ball fields and at dance recitals these days. We love cooking gourmet meals in our tiny kitchen, and oddly enough, I am a fantastic beat boxer!"
"I moved to Ireland from England when I was seven years old. When I started secondary school, I developed a passion for business studies, which led me to achieve high grades in both business and economics. I knew I wanted to complete a business degree in college, so I attended University for a four-year course, in which I specialized in economics and finance for my final two years. I first decided to pursue a career in lending when applying for my first student loan. Thereafter, I applied for a job in my local credit union, where I have gained experience in customer service, lending, and marketing. Also, I completed the QFA diploma."Rachelle's Answer
Very well laid out! Using the Past/Present/Future model, try adding more detail into the Present and Future part of your journey. Also, if you have any small personal details to add in - just to allow the interviewer to make a connection with you - that is often a good approach.Was this answer helpful? Yes (0) or No (1)Thank you, your vote helps us display the best answers.
Why is it important to work with the best realtors?
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.
What attracted you to this company?
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.
Are you efficient and organized with paperwork?
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!
"Absolutely! I like to keep my paperwork in folders - I usually have one for paperwork that needs to be completed, one for work that has been completed, and another for notes and information that may need to be referred to from time to time. I organize my paperwork by deadlines and tend to complete it first thing in the morning."Rachelle's Answer
It seems you are very well organized and that you have useful systems in place. Do you leverage any digital tools/programs as well?Was this answer helpful? Yes or NoThank you, your vote helps us display the best answers.
Where would you like to be in your career five years from now?
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.
Are you a team player?
Absolutely! Financial Institutions are team oriented. Everyone has to work together to get referrals and help the financial succeed, and the interviewer needs to know that you will do this. Simply share that you are a team player, and you understand everyone needs to work together to get those referrals!
Why do you want to be a loan officer?
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.
What do co-workers say about you?
The interviewer wants to hear that your co-workers describe you in a positive manner. Think about the positive things your co-workers have said about you in the past. Instead of listing these things, tell the interviewer what each person has told you. For example, you might say, "John has told me that I am a hard worker, and he has told me that he really likes how I am always happy to be at work!" These concrete examples will be sure to impress the interviewer!
"John has told me that I am a hard worker, and he has told me that he really likes how I am always happy to be at work!"
What interests you about this job?
What interests you about the loan officer opportunity? Do you enjoy sales and mingling with people? Do you enjoy the financial institution environment? Are you hoping to pursue a long-term career in banking, and this is a great stepping stone to starting that journey? Whatever interests you about being a loan officer, share it! Your passion will automatically come through in an honest, candid response.
What's your ideal company?
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!
What applicable attributes do you have?
The interviewer wants to hear what qualifications you have for the loan officer job. Have you worked as a loan officer before? Are you great with networking? Do you have exceptional relationship building skills? Maybe you have a knack for organization and details. Simply share what applicable qualifications you have for the job!
What have you done to improve your knowledge in the last year?
The interviewer would like to understand how you continually keep up with modern industry trends. Have you attended any seminars recently? Did you go to a major conference? Do you always read a certain financial magazine? Whatever ways you have continued improving your knowledge, share it with the interviewer!
Are you applying for other jobs?
Do you use social networks to generate leads? Do you feel comfortable with this tactic?
Tell me about your marketing skills, and where in the past you have demonstrated these abilities.
Do you feel it is better to work with 5 great realtors, or spread yourself over 20 mediocre realtors?
How do you power through and remain focused while finishing paperwork? How important is it to properly complete all paperwork?
What experience do you have in this field?
What sales experience do you have?
Are you willing to work overtime, nights, weekends?
What is the toughest problem you've had to face? And how did you overcome it?
Have you ever been asked to leave a position?
What is your greatest strength?
What's the last book you read?
Are you willing to travel?
What are your weaknesses?
Do you know anyone who works for us?
What challenges are you looking for in a position?
How do you handle stressful situations?
How do you feel when you cannot deliver a loan to a family that desperately wants a new home?
What are you most proud of?