Once you feel out the initial conversation with your potential loan officer and your 10 questions during your interview with the loan officer have been answered, there are several questions a good loan officer will ask you in return. If all your questions are answered and the loan officer asks you all the below questions, then you will know for sure you found a good potential fit for a loan officer.
Here are a few questions you should expect a loan officer to ask you:
- Have you ever owned a home before?
- What are your present housing expenses and are you comfortable with that amount?
- How long do you plan to live in your new home?
- Do you know what your FICO score is and how well your credit is?
- Is your job secure or do you have a dependable income?
- Is 50 percent of your income received from commission or bonuses?
- Do you plan to experience any financial changes in the near future, like a college tuition coming up or receiving a large inheritance?
Again I must mention that the Internet may not be your best bet in finding a loan officer. The process of interviewing a loan officer needs to be a personal one. When you are gathering information on their services and how they would structure the loan, is the time when you are building up a relationship with them.