Fairport at a glance
- Population: 5,353, the 163rd-largest community in New York out of 595 (US Census Bureau, Vintage 2023).
- 2020 Census base: 5,471 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down roughly 2.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among New York places: 163rd of 595 by population (US Census Bureau, Vintage 2023).
- Size percentile: it exceeds roughly 73% of New York's Census places by population (US Census Bureau).
- Coordinates: it sits at 43.0995, -77.4431 in the US Census Bureau Gazetteer.
- Nearest larger cities: East Rochester, NY (2 mi); Webster, NY (8 mi); Rochester, NY (10 mi); Canandaigua, NY (17 mi); Newark, NY (18 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Pittsford, NY (4 mi); Victor, NY (8 mi); Palmyra, NY (11 mi) (Census populations).
What a personal loan costs in Fairport
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
New York lending rules that apply in Fairport
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
How to compare offers in Fairport
The order below is a sensible way to approach a loan in Fairport:
- 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 York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.