Bellaire at a glance
- Population: 1,038 residents, the 347th-largest of 533 places in Michigan (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 1,001 residents here (US Census Bureau).
- 2020 to 2023 change: up roughly 3.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Michigan places: 347th of 533 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 35% of Michigan's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 44.9712, -85.2023.
- Nearest larger cities (120-mile radius): Mancelona, MI (8 mi); Elk Rapids, MI (11 mi); East Jordan, MI (13 mi); Kalkaska, MI (17 mi); Boyne City, MI (19 mi) (US Census Bureau).
- Nearest smaller communities: Central Lake, MI (7 mi); Ellsworth, MI (14 mi); Boyne Falls, MI (20 mi), each a US Census place.
What a personal loan costs in Bellaire
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Michigan lending rules that apply in Bellaire
The Michigan rate caps and licensing rules that reach Bellaire are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 7% per annum maximum by written agreement; 5% legal rate (MCL 438.31) Source says: "it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding 7% per annum" | Michigan Legislature as of 2026-09-16 |
| Payday lending status | Legal and licensed — deferred presentment service transactions (2005 PA 244; MCL 487.2121 et seq.), licensed and regulated by DIFS Source says: "AN ACT to regulate the business of providing deferred presentment service transactions; to require the licensing of providers of deferred presentment service transactions" | Michigan Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | License required from the commissioner to make regulated loans (Regulatory Loan Act, MCL 493.1 et seq.) Source says: "a person shall not engage in the business of making loans of money ... without first obtaining a license from the commissioner" | Michigan Legislature as of 2026-09-16 |
| State lending regulator | Michigan Department of Insurance and Financial Services (DIFS) Source says: ""Department" means the department of insurance and financial services" | Michigan Legislature as of 2026-09-16 |
| Regulated lender interest/finance charge cap | 25% per annum (Credit Reform Act, MCL 445.1854(1)) Source says: "may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum" | Michigan Legislature as of 2026-09-16 |
How to compare offers in Bellaire
The steps below are worth completing first when you borrow in Bellaire:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Michigan using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.