Everett at a glance
- Population: 50,318 (US Census Bureau, Vintage 2023 subcounty estimate), the 24th-largest of 54 places in Massachusetts.
- 2020 Census base: 49,075 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a gain of roughly 2.5% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Massachusetts places: 24th largest of 54 (US Census Bureau).
- Size percentile: roughly 56% of Massachusetts's places have fewer residents (US Census Bureau).
- Coordinates: 42.4059, -71.0546 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Malden, MA (2 mi); Somerville, MA (3 mi); Medford, MA (3 mi); Revere, MA (3 mi); Cambridge, MA (4 mi) (US Census Bureau).
- Smaller towns nearby: Chelsea, MA (1 mi); Melrose, MA (3 mi); Winthrop Town, MA (5 mi) (US Census Bureau).
What a personal loan costs in Everett
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
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.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Massachusetts lending rules that apply in Everett
The table carries the Massachusetts rate and licensing rules that apply to consumer loans made in Everett.
| Rule | Detail | Source |
|---|---|---|
| Small-loan rate order | Maximum 23% per annum plus a $20 administrative fee (209 CMR 26.00/26.01) Source says: "Regulation 209 CMR 26.00 et seq. limits the annual interest rate that can be charged on small loans to 23%" | Massachusetts Division of Banks as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 20% per annum criminal-usury threshold (M.G.L. c. 271, § 49); statutory exceptions apply Source says: "interest and expenses the aggregate of which exceeds an amount greater than twenty per centum per annum upon the sum loaned" | Massachusetts General Court as of 2026-09-16 |
| Payday lending status | Restricted: DOB states payday lending is not prohibited, but a 'payday loan' is illegal due to the high APR Source says: "Payday lending is not prohibited in Massachusetts. Yet what is referred to as a 'payday loan' is illegal" | Massachusetts Division of Banks as of 2026-09-16 |
| Small-loan / installment lender licensing | Small-loan license required for loans of $6,000 or less when interest and expenses exceed 12% per year (M.G.L. c. 140, § 96) Source says: "No person shall directly or indirectly engage in the business of making loans of six thousand dollars or less ... without first obtaining ... a license" | Massachusetts General Court as of 2026-09-16 |
| State lending regulator | Division of Banks (Office of the Commissioner of Banks) Source says: "The Division of Banks (DOB) cautions you when applying for a payday loan" | Massachusetts Division of Banks as of 2026-09-16 |
How to compare offers in Everett
A few practical steps will make the process in Everett less costly:
- 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 Massachusetts using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.