VA/sba7a/cdc loan on multi family

[Alex Davis]

I'm looking to use my VA loan on either purchasing and remodel or new construction. I would be doing most if not all of the remodel/construction myself to keep cost as low as possible. I'm leaning toward remodel for the less construction time involved. I want to know is it possible to cover the cost of the remodel in the VA loan or will that have to come out of pocket? As opposed to the new construction that would cover mainly all the major costs.

I also have had a security business for the past 3 years and meet all the posted criteria for a business loan. Can I use either an sba 7a or the cdc to purchase and remodel a building as long as the security business hold 51% of the property? Are sba loans even possibly anymore? I've heard they are basically impossible to find a bank willing to lend them.

I appreciate all suggestions.