Bank Loan officer compromised?

My wife and myseld are building a new home.We have a quote from our general contractor and it was in line with all the other quotes.When we go to a bank we get approved for 300,000.00 dollars.We have no intention of spending it all.Our house will fall within our budget.Now our contractor quoted us in person 200,000.00. for everything we asked for.He faxes a contract to our banker..who we find out now they are good friends.
Since our visit to the bank…we were asked to return to sign the Banks contract for our mortgage.We found out the price went up $ 52,000.00! Now 252,000. I found this odd as the contractor never discussed the raise in his quote. I later found out they are friends and our contractor recommends this agent handing out her cards…whast your thought? We have signed a contract with the bank…days ago and now wish to cancell the whole contract with this bank…If we are we have a leg to stand on?

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