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Commercial construction building contractors supervise a range of construction projects. Often, the contractor is brought in when somebody needs to make a new building for commercial or business purposes; however, contractors might also work in renovation and remodeling of existing structures as well. The general contractor surveys the work to.
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Permanent VA Financing for Construction Loans. Veterans and military members hoping to turn their construction loan into a permanent VA mortgage will need to meet the same underwriting guidelines as a veteran purchasing an existing home, from credit scores and debt-to-income ratio to residual income and more.
Select VA lenders can turn those interim construction loans into full-blown VA home loans. A lender may handle this like a refinance or a new purchase loan . Borrowers are subject to all the VA lender’s standards regarding credit score, debt-to-income ratio, income, employment and more.