Downey at a glance
- Population: 570 people, the 117th-largest place among Idaho's 197 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 565 (US Census Bureau).
- 2020 to 2023 change: up about 0.9% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Idaho places: the 117th-largest of 197 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 41% of the places in Idaho (US Census Bureau).
- Coordinates: mapped at 42.4289, -112.1233 by the US Census Bureau Gazetteer.
- Nearest larger cities: McCammon, ID (16 mi); Malad City, ID (18 mi); Grace, ID (22 mi); Preston, ID (26 mi); Inkom, ID (26 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Arimo, ID (9 mi); Oxford, ID (13 mi); Lava Hot Springs, ID (14 mi), per US Census Bureau estimates.
What a personal loan costs in Downey
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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 offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Idaho lending rules that apply in Downey
Each row below is a Idaho rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Regulated Lenders License required (regulated consumer loans) Source says: "unless a person is exempt ... he shall not engage in the business of: (a) Making regulated consumer loans". | Idaho State Legislature as of 2026-09-16 |
| State lending regulator | Idaho Department of Finance (IDOF) Source says: "Safeguarding the financial health of Idahoans through the appropriate oversight of diverse financial institutions, the education and protection of consumers". | Idaho Department of Finance as of 2026-09-16 |
| Idaho Credit Code finance-charge rule | No statutory maximum finance-charge rate — rate as agreed by the parties (Idaho Credit Code) Source says: "the rate of finance charge shall be that which is agreed upon between the parties to the transaction". | Idaho State Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per annum legal rate (when no written contract fixes a different rate) Source says: "interest is allowed at the rate of twelve cents (12¢) on the hundred by the year". | Idaho State Legislature as of 2026-09-16 |
| Payday lending status | Permitted under license (payday loan license required) Source says: "No person shall engage in the business of payday loans ... without having first obtained a license under this chapter". | Idaho State Legislature as of 2026-09-16 |
How to compare offers in Downey
Here is a short checklist for comparing personal loans in Downey:
- 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 Idaho using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.