Frequently Asked Questions
FAQ: Home Loans and Commercial Financing
General Loan Information
Bella Group Funding offers a variety of loan products, including home loans, commercial real estate loans, SBA loans, bridge loans, and construction loans. We tailor these loans to meet the specific needs of individuals and businesses.
Need more information? Book a consultation with one of our loan experts.
To qualify for a loan, you typically need a good credit score, a stable income, and the ability to make monthly payments. For commercial loans, we also consider the value of the collateral and the potential cash flow from the property or business.
- Fixed-rate mortgage: The interest rate stays the same throughout the loan term, offering consistent monthly payments.
- Adjustable-rate mortgage (ARM): The interest rate starts lower but can adjust after a set period based on market conditions. Apply now to find out which mortgage is right for you!
Home Loans
We offer conventional loans, FHA loans, and VA loans. These options provide flexibility based on your credit score, down payment, and financial situation.
You’ll need a credit score of at least 620 for most conventional loans. For FHA loans, a credit score as low as 580 is accepted, with a minimum down payment of 3.5%.
Pre-approval involves submitting documents such as pay stubs, credit reports, and tax returns. A pre-approval letter helps show sellers that you’re a serious buyer. Ready to start? Get pre-approved today!
Commercial Loans
A commercial real estate loan helps businesses purchase or refinance commercial properties like office buildings, retail spaces, and multi-family housing. This loan can be used for property purchases, construction, or refinancing.
Commercial loans are typically shorter-term, have higher interest rates, and require collateral in the form of commercial property. The application process also considers the cash flow and financial strength of the business.
SBA loans, backed by the Small Business Administration, offer low-interest loans for small businesses, often with favorable terms for commercial real estate. Interested in commercial financing? Speak with a commercial lender today!
Bridge Loans
A bridge loan is a type of short-term financing used to “bridge the gap” between the purchase of a new property and the sale of an existing property. It helps secure immediate capital, often with interest-only payments. The loan is repaid when you sell the old property or secure long-term financing.
Bridge loans are ideal for real estate investors, developers, and businesses needing short-term financing to complete the purchase of a new property while waiting for permanent funding. Explore your options! Learn more about bridge loans.
Bridge loans come with higher interest rates compared to traditional loans, ranging from 8% to 12%, and are typically repaid within 6 to 24 months.
Construction Loans
These loans provide funding during the construction phase and then convert to a long-term commercial real estate loan once the project is completed. This streamlines the financing process and avoids the need to apply for separate loans for each phase of your project.
We offer term loans for fixed amounts, lines of credit for flexible borrowing, and SBA loans for small business owners. These loans cover everything from land acquisition to materials and labor costs. Have a construction project in mind? Apply for a construction loan.
Loan Costs & Approval Process
Closing costs include fees such as loan origination, appraisal, and title insurance. They typically range from 2% to 5% of the total loan amount.
Our streamlined application process ensures quick approvals for both home and commercial loans. Most approvals are completed within a few days.
Your credit score, loan amount, and the type of loan you apply for determine your interest rate. Higher credit scores and larger down payments generally result in lower interest rates.
Ready to take the next step?
Book a consultation to discuss your loan needs.
Apply now to get started with your home or commercial loan application.