How do you feel when you cannot deliver a loan to a family that desperately wants a new home?

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.

What are your weaknesses?

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.

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.

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 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.

What are you most proud of?

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!

What's the last book you read?

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!

Do you have any questions for me?

"Why is this position available?"

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 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.

Are you willing to travel?

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.

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."

How do you power through and remain focused while finishing paperwork? How important is it to properly complete all paperwork?

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.

"I understand how important it is to complete the loan paperwork accurately and on time. Not only is it beneficial to the company, but customers greatly appreciate a prompt response to their applications and don't want to be inconvenienced by mistakes in their applications. I tend to complete my paperwork first thing in the morning when I'm most alert and generally have no problem remaining focused."

What sales experience do you have?

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!

"As I was part of the marketing team while also working in customer service, it gave me a greater understanding of what motivates customers to take out a loan and the power phrases used to encourage them when they are unsure."

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.

Do you use social networks to generate leads? Do you feel comfortable with this tactic?

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.

"Yes, word of mouth is a highly effective tool as people are more likely to trust the opinion of another person who has real experience rather than a company telling them what they should experience."

Do you feel it is better to work with 5 great realtors, or spread yourself over 20 mediocre realtors?

5 great realtors! Having great relationships often leads to the best business partnerships. It is easier to manage the fewer number of partnerships, and you can create a better streamline of business. Tell the interviewer that investing in relationships with great realtors brings more business. Share that they sell more homes, and you can invest more time into a fewer number of relationships. So, it's a win-win!

Tell me about your marketing skills, and where in the past you have demonstrated these abilities.

As a Loan Officer, bringing in business and attracting clients is a key part of your role, and you are great at it! What community activities are you a part of? Are you a part of any professional associations? Are you on any Boards? Anywhere you go, you are a face for your company and 'marketing' to other people when you talk about your job. Maybe you have attended after work socials or business presentations. All of these are great marketing events! Begin by sharing how you have marketed your job to others to bring in additional business. Next, share a story of a time when you were successful at bringing in a client due to your marketing expertise. Discuss where you met the client, how you simply mentioned your role as a loan officer, and how that client ultimately came to you through that simple interaction for their next loan.

"As a member of our marketing team, one of my key tasks was to increase our loan book and reach the targets set out in our strategic plan. Last year, we introduced a special interest rate for larger home improvement loans. These loans were a great success as we reached our capacity in just a few months. We also increased our focus on student loans as one of our key objectives in attracting younger borrowers and encouraging them to continue to borrow from us in the future. We saw a significant increase in the number and monetary amount of student loans paid out due to our efforts."

What is your greatest strength?

Think back to your past performance reviews. What positive comments have been documented? Are there any common themes? Have you ever been commended for something in the workplace? These things are your strengths! Tell the interviewer your most prominent strength, and mention that your co-workers have told you that this is your strength. It will surely impress the interviewer!

What experience do you have in this field?

This one should be easy! Simply share what other financials you have worked for, your job title with each company, and how long you worked there. Mention if you ever received a promotion, and share if you have a degree in a related field such as Financial Management.

"While working in a credit union, I have assisted many customers through the loan application process, ensuring they have all of the relevant information and paperwork required to complete the process. I have drawn down loans, ensured all of the required paperwork is completed, and discussed repayments. I have completed this in person, over the phone, and by email."

Do you know anyone who works for us?

Interviewers need to be aware of any potential conflicts of interest when working with money, and it is very important to be candid with the interviewer about any relationships you have with people who work in the industry. Think through your friends, immediate family, and extended family. Does any of them work for this company? If so, tell the interviewer the person's relationship to you, the location they work at, and what role they work in. In many cases, these relationships are not a big deal, and the financial just wants to be aware of them. Go ahead and share your connections!

"Yes, two of my former colleagues currently work here. We worked very well together in our previous roles."

Are you willing to work overtime, nights, weekends?

Be candid and open with the interviewer expressing what type of availability you have. Be sure to factor in your children's activities, and mention that you are willing to help out as necessary at special company events to help draw in new business.

Are you applying for other jobs?

Don't be afraid to share if you are applying with other companies too. It can be used to your advantage to obtain a quicker & better job offer. Simply share if you are applying for other jobs. You do not need to share which companies or how many companies; a simple yes or no is sufficient. Next, mention if you have any additional interviews already scheduled, and be sure to share that you are most interested in this job that you are currently interviewing for!

"I am applying with other companies. I have one outstanding application that I am awaiting an interview date. However, I am only applying for roles that meet my lending career goals, and this role is my preferred position."

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!

What do you know about this organization?

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.

What do co-workers say about you?

"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!"

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!

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!

Tell me about yourself.

"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!"

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 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."

How do you handle stressful situations?

The interviewer wants to hear that you work through stressful situations with ease not allowing the situation to get the best of you. Think back to a past stressful situation. Share an overview of what occurred, and explain why it was so stressful. Be sure to mention that even though it was stressful, you maintained your professional, positive attitude and did not allow it to get the best of you. Share what you did to get through that situation, and mention what you learned from that stressful time.

What is the toughest problem you've had to face? And how did you overcome it?

Think back through your career thus far. If you are a more recent graduate, include your schooling too. What is the hardest day you have faced? What challenge kept you up at night? What problem took the most amount of time to solve? The answers to these questions will help lead you to the toughest problem you have faced. Begin by sharing a high-level overview of the problem. The interviewer is most concerned with how you overcame the problem, so go more into depth with how you worked through the problem. Be sure to mention how long it took you to overcome the problem, and share that you never let the problem get the best of you. A positive attitude is key! Finally, mention what you learned from that experience and what you would do differently if a similar problem occurred again in the future.

Have you ever been asked to leave a position?

It is important that you are candid and honest with the interviewer. Share if you have ever been asked to leave a position. If you have been asked to leave a position, explain why and mention any internal organizational changes that were occurring, mergers/acquisitions that were in process, or ongoing performance issues you were struggling with. If performance was the reason, explain what you learned from that situation, and be sure to mention what you have done to ensure you do not struggle with those same performance issues again.

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 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!

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.

What challenges are you looking for in a position?

Challenges often help a person stay interested in a job; mostly, these are things that you enjoy doing that are not easy for everyone else. Common responses for a loan officer might be:- The challenge of helping others achieve financial success- The challenge of managing a lot of details- The challenge of understanding complex processes & regulationsThese are all great answers for this question! Think about what you are good at that others might struggle with, and turn it into a 'challenge' statement for the interviewer.

Loan Officer Interview Questions

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1. How do you feel when you cannot deliver a loan to a family that desperately wants a new home?
2. What are your weaknesses?
3. Where would you like to be in your career five years from now?
4. What's your ideal company?
5. What attracted you to this company?
6. What are you most proud of?
7. What's the last book you read?
8. Do you have any questions for me?
9. Why do you want to be a loan officer?
10. Are you willing to travel?
11. Are you efficient and organized with paperwork?
12. How do you power through and remain focused while finishing paperwork? How important is it to properly complete all paperwork?
13. What sales experience do you have?
14. Why is it important to work with the best realtors?
15. Do you use social networks to generate leads? Do you feel comfortable with this tactic?
16. Do you feel it is better to work with 5 great realtors, or spread yourself over 20 mediocre realtors?
17. Tell me about your marketing skills, and where in the past you have demonstrated these abilities.
18. What is your greatest strength?
19. What experience do you have in this field?
20. Do you know anyone who works for us?
21. Are you willing to work overtime, nights, weekends?
22. Are you applying for other jobs?
23. What have you done to improve your knowledge in the last year?
24. What do you know about this organization?
25. What do co-workers say about you?
26. Are you a team player?
27. Tell me about yourself.
28. How do you handle stressful situations?
29. What is the toughest problem you've had to face? And how did you overcome it?
30. Have you ever been asked to leave a position?
31. What interests you about this job?
32. What applicable attributes do you have?
33. Why are you the best person for this job?
34. What challenges are you looking for in a position?

Loan Officer Interview Questions

1. How do you feel when you cannot deliver a loan to a family that desperately wants a new home?

2. What are your weaknesses?

3. Where would you like to be in your career five years from now?

4. What's your ideal company?

5. What attracted you to this company?

6. What are you most proud of?

7. What's the last book you read?

8. Do you have any questions for me?

9. Why do you want to be a loan officer?

10. Are you willing to travel?

11. Are you efficient and organized with paperwork?

12. How do you power through and remain focused while finishing paperwork? How important is it to properly complete all paperwork?

13. What sales experience do you have?

14. Why is it important to work with the best realtors?

15. Do you use social networks to generate leads? Do you feel comfortable with this tactic?

16. Do you feel it is better to work with 5 great realtors, or spread yourself over 20 mediocre realtors?

17. Tell me about your marketing skills, and where in the past you have demonstrated these abilities.

18. What is your greatest strength?

19. What experience do you have in this field?

20. Do you know anyone who works for us?

21. Are you willing to work overtime, nights, weekends?

22. Are you applying for other jobs?

23. What have you done to improve your knowledge in the last year?

24. What do you know about this organization?

25. What do co-workers say about you?

26. Are you a team player?

27. Tell me about yourself.

28. How do you handle stressful situations?

29. What is the toughest problem you've had to face? And how did you overcome it?

30. Have you ever been asked to leave a position?

31. What interests you about this job?

32. What applicable attributes do you have?

33. Why are you the best person for this job?

34. What challenges are you looking for in a position?