Encino at a glance
- Population: a Census-estimated 56, placing it 102nd among New Mexico's 105 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 54 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: up roughly 3.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among New Mexico places: 102nd in population of 105 places (US Census Bureau).
- Size percentile: it exceeds roughly 3% of New Mexico's Census places by population (US Census Bureau).
- Coordinates: 34.6518 latitude, -105.4586 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Vaughn, NM (14 mi); Corona, NM (29 mi); Willard, NM (33 mi); Estancia, NM (34 mi); Moriarty, NM (41 mi); each population is a US Census Bureau estimate.
- Smaller places close by: House, NM (88 mi) (US Census Bureau).
What a personal loan costs in Encino
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
New Mexico lending rules that apply in Encino
The sourced rows below are the rules a licensed lender must follow when lending in New Mexico, and therefore in Encino.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | New Mexico Financial Institutions Division (FID), Regulation and Licensing Department Source says: "We regulate a variety of financial institutions operating in New Mexico including:" | New Mexico Regulation and Licensing Department, Financial Institutions Division as of 2026-09-16 |
| Small loan company licensing/regulation | Small loan companies are a regulated institution category of the Financial Institutions Division Source says: "Small Loan Companies" | New Mexico Regulation and Licensing Department, Financial Institutions Division as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 15% annually absent a written contract fixing a different rate (NMSA 1978, 56-8-3) Source says: "The rate of interest, in the absence of a written contract fixing a different rate, shall be not more than fifteen percent annually" | New Mexico Compilation Commission (NMOneSource, official NMSA) as of 2026-09-16 |
| Payday lending status | Payday-style small loans capped at 36% APR (HB 132 of 2022; effective January 1, 2023; cap rises only if prime rate exceeds 10% for three consecutive months) Source says: "a permitted annual percentage rate greater than thirty-six percent, calculated pursuant to 12 CFR Part 1026" | New Mexico Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Lenders making Bank Installment Loan Act loans (other than federally insured depositories) must be licensed under the Small Loan Act (2022 requirement) Source says: "a new requirement for lenders making loans under the BILA (other than a federally insured depository institution) to be licensed under the SLA" | New Mexico Legislature (Legislative Finance Committee fiscal impact report) as of 2026-09-16 |
How to compare offers in Encino
Here is a short checklist for comparing personal loans in Encino:
- 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 New Mexico using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.