Hammondsport at a glance
- Population: about 586, 501st by size in New York of 595 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 599 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: roughly 2.2% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among New York places: 501st largest of 595 (US Census Bureau).
- Size percentile: it exceeds roughly 16% of New York's Census places by population (US Census Bureau).
- Coordinates: 42.4087 / -77.2229, per the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Bath, NY (7 mi); Savona, NY (9 mi); Avoca, NY (10 mi); Dundee, NY (15 mi); Cohocton, NY (15 mi) (US Census Bureau populations).
- Smaller places nearby: Riverside, NY (19 mi); Burdett, NY (19 mi); Millport, NY (22 mi), per US Census Bureau estimates.
What a personal loan costs in Hammondsport
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
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.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
New York lending rules that apply in Hammondsport
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Hammondsport
Before you share your details with a lender in Hammondsport:
- 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.