Farmingdale at a glance
- Population: the Census estimates 1,491 residents, ranking 280th of 323 places in New Jersey (Vintage 2023).
- 2020 Census base: 1,505 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a loss of about 0.9% since the 2020 count (US Census Bureau).
- Rank among New Jersey places: 280th in population of 323 places (US Census Bureau).
- Size percentile: larger than about 13% of the Census places in New Jersey (US Census Bureau).
- Coordinates: 40.1984 latitude, -74.1701 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Tinton Falls, NJ (6 mi); Freehold, NJ (7 mi); Neptune City, NJ (7 mi); Spring Lake Heights, NJ (7 mi); Belmar, NJ (8 mi) (US Census Bureau).
- Nearest smaller places: Interlaken, NJ (9 mi); Allenhurst, NJ (9 mi); Loch Arbour, NJ (9 mi) (US Census Bureau estimates).
What a personal loan costs in Farmingdale
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
New Jersey lending rules that apply in Farmingdale
Each row below is a New Jersey rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Farmingdale
The steps below are worth completing first when you borrow in Farmingdale:
- 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.