I am currently involved in a construction loan with First Guaranty Mortgage Corporation. This is an FHA construction to permanent loan that was approved at the beginning of 2015. I initially had a good faith estimate done and agreed to the terms. During the process the company changed my amounts and interest rate from what was quoted me stating that my paperwork I signed was out of date. They proceeded to increase my rate along with requiring more of a down payment. During this time I started building the home grading and such to keep my progress moving forward so I incurred costs that were built into my loan for reimbursement. I submitted these to FGMC as the actual line items on my loan from the budget we created. I was told that these will be prepaid payments and not reimbursable. These amounts were built into my good faith estimate and when I received final docs the loan changed by these amounts. Prepaid items became deposits and the amount for withdrawal for my construction build shrunk by approximately XXXX. I confronted them about this and they explained that I still had a 10 % overage built into the loan. I asked them to point this out in the loan but I was ignored and come to find out this is not in the loan. I have asked for an increase in the loan to cover the amounts of my first reimbursements only to be humiliated by the loan company stating that " with the contractors and my experience they do n't see how this could have happened ''. I 'm trying to scrape funding together to complete my house but so far no luck. My warning to all would be if you are looking for this type of loan, do not use FGMC. By the way I have completed a home in the past using XXXX. I did very well and ended up selling this previous house for a profit. 
