Fanwood at a glance
- Population: 7,655, the 147th-largest community in New Jersey out of 323 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 7,782 (US Census Bureau).
- 2020 to 2023 change: a loss of about 1.6% since the 2020 count (US Census Bureau).
- Rank among New Jersey places: 147th of 323 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 54% of places in New Jersey are smaller (US Census Bureau).
- Coordinates: 40.6417, -74.3857 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Westfield, NJ (2 mi); Plainfield, NJ (2 mi); North Plainfield, NJ (3 mi); New Providence, NJ (4 mi); South Plainfield, NJ (5 mi) — straight-line distances, US Census Bureau populations.
- Smaller towns nearby: Watchung, NJ (3 mi); Mountainside, NJ (3 mi); Garwood, NJ (3 mi) (US Census Bureau).
What a personal loan costs in Fanwood
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
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.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
New Jersey lending rules that apply in Fanwood
The New Jersey rate caps and licensing rules that reach Fanwood are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Fanwood
These steps are the ones that most affect the offer you receive in Fanwood:
- 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 Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.