10/09/2026
I've banked with the same institution since 1992. Thirty-four years. Multiple mortgages, multiple accounts, never once an issue. So when it came time for a construction loan, going to them felt like a no-brainer.
The application went great. Credit score over 800 on all three bureaus. Well over 20% down. Solid income. The loan officers were impressed. No red flags anywhere.
Then it hit underwriting.
They wanted proof of backup funds, fine, even though I already had 20% down and a visible savings account. I offered an investment account. Problem: that account only issues an annual statement. I gave them the most recent one. Not good enough. I sent a current screenshot. Not good enough. I explained, more than once, that this is simply how the account works. Not good enough.
I looped in my financial advisor. He confirmed everything I'd been saying and offered to call them directly. I passed along his number. And then I waited. And waited.
I started this process in August. Prequalified with no issues. The construction loan itself wasn't approved until December. Three months, for something that should never have taken that long.
Round and round it went, the same request, the same explanation, until I finally sent an email laying it all out plainly: an 800+ credit score, over 20% down, more than enough income, so what, exactly, were we waiting for?
That did it. Somehow, suddenly, they found a way to move forward.
Every single person on that loan checked their box. Nobody stopped to actually understand the job in front of them: get a qualified, over-collateralized borrower into a loan she'd already proven she could handle. They had every fact they needed the whole time. They just never put it together.
A checked box isn't the same as a job well understood. (Yeah, I still bank with them. Old habits.)