Beware! They take your time and money and leave you hanging!\t\n Here is my story:\t\nI went to Bank of Bloomsdale, Crystal City branch, to request a construction loan for building our home. My husband and I were building a small stick frame home with log siding on a property with a few acres, barn, garage, and existing home with a bad foundation. We looked over the plans with lenders and specifically pointed out that the upstairs bedroom was a loft and asked specifically if they did loans for log homes with just a loft. They said they did, but did not know if it would appraise high enough since the upstairs bedroom was a loft style, but if it appraised high enough they would give us the loan. They then said if it did not appraise high enough they would try to work with us and see if there was something else that could be done, like putting down a larger down payment. They said our credit, plans, and work history were good for a loan and the only thing we needed to get a loan was a good appraisal. We proceeded forward and paid $350 for the appraisal. We asked for a time frame of when we could expect to know if we are approved and they said by August the 6th at the latest. The following day the appraiser came out and did the appraisal. At the end of August (a month later) the lender called and said he would not give us the loan. When asked if it was because the appraisal was too low he replied that it was not too low, and it appraised high enough. When asked if it was a money issue, and I stated that we could do a larger down payment, the lender replied that both our credit and financial situation were good and that was not the reason. When asked what the reason was the lender stated that he did not feel comfortable lending to build a house with an empty one on the property. I stated we could easily have that house torn down and would not mind doing that to secure a loan. He then stated he would still not lend to us because the house we were building had a loft instead of a bedroom. I was confused why he had us enter the process and have the appraisal done, since he seen our house plans, when I first walked in and had approved them. He said if my husband wanted to speak to him in person he could if we had any further questions. My husband went to the bank to speak to him in person the next day, but the lender was on vacation. We asked other members of the bank why our loan was refused and showed them our paper work. They replied they had no idea why he would refuse the loan because we had everything we needed and that our appraisal, home plans, and credit looked good. They explained that he was the sole decider on this loan. They said they would talk to him when he returned and that we should talk to him when he returned a week later because there may have been a mistake. One week later my husband called and talked to the lender. Realizing that the lender was the sole decider on this loan, my husband asked why he had us pay $350 for an appraisal and wait a month to tell us he would not lend to us, when he could have told us the first day when we showed him the plans and expressed to him that this was frustrating because now we have lost over a month of summer building time and $350, which could have been prevented if he had told us during the first meeting he did not plan to loan us the money, since he knew the first meeting that the house had a loft. He replied that he did not want to lend to a home with a loft, but would not give a reason for why he did not tell us in the beginning! \t\n\t\nI sent the above information to the BBB. The lender who we delt with simply wrote back to the BBB lied and then said we have no proof that any of this happened. I am shocked and very disappointed and am currently contacting watch dog groups to check out this bank. \t\n\t\nI got a loan in one week at a different bank!!\t\n\t\nBeware of this bank!!!!!! ...read more