First National Bank-St Louis

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I invest in Real Estate in St. Louis area and contacted First National Bank Mortgage office and they preapproved me for a loan. I got a house and paid them the inspection fee and being that the house was previously occupied, it needed some fixes which was no issue to me as I renovate houses. I presented all the proof they needed that i could cover the costs of hiring someone else to renovate the house and their underwriters approved all documents. Several weeks before the closing date I asked them over and over if they were not comfortable financing the house they should tell me ASAP as i had preapprovals from other banks that could do it.

Two days before the closing date they called and pulled out of financing the house knowing that it was too late to get another bank to close. They then contacted my insurance company for the house and suddenly they too called me and said they could not insure the house! WHat!?

I ended up having to use other means to finance the house costing me about $3000 more. I was so shocked that they could get away with that but I turned my fate around and renovated the house in less than two months and had a renter in less than a week.



If you are looking for a Mortgage bank STAY AWAY FROM THIS BANK!!!