Dexter at a glance
- Population: the Census estimates 4,509 residents, ranking 161st of 533 places in Michigan (Vintage 2023).
- 2020 Census base: the 2020 count put the population at 4,503 (US Census Bureau).
- 2020 to 2023 change: roughly 0.1% higher than at the 2020 Census (US Census Bureau).
- Rank among Michigan places: 161st in population of 533 places (US Census Bureau).
- Size percentile: about 70% of Michigan's Census places are smaller (US Census Bureau).
- Coordinates: 42.3323, -83.8810 (US Census Bureau Gazetteer).
- Nearest larger cities: Chelsea, MI (7 mi); Ann Arbor, MI (9 mi); Saline, MI (12 mi); Brighton, MI (15 mi); Ypsilanti, MI (15 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Barton Hills, MI (6 mi); Pinckney, MI (9 mi); Manchester, MI (15 mi) (US Census Bureau).
What a personal loan costs in Dexter
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Michigan lending rules that apply in Dexter
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Dexter
Run through this list before signing anything in Dexter:
- 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.