We own 21 acres of land. We recently were approved for a new construction loan that we will convert to a standard mortgage when we have received our occupancy permit. We have had several questionable issues with our bank.

a. they increased our interest rate from 5 to 5.5 because the appraiser said there were no comparable properties in the area with 21 acres.

b. we had monies set aside to pay for the well installation, porch and septic system. We were told that we had to put that money into escrow and that the bank would pay the contractors upon completion.

c. we found out that the bank paid some of our closing costs out of the escrow fund, even though we had rolled our closing costs into our mortgage.

Are these practices standard?

thank you