Hopewell at a glance
- Population: 22,752, the 26th-largest community in Virginia out of 227 (US Census Bureau, Vintage 2023).
- 2020 Census base: 23,031 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down roughly 1.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Virginia places: the 26th-largest of 227 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 89% of Virginia's places have fewer residents (US Census Bureau).
- Coordinates: 37.2910 latitude, -77.2989 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Petersburg, VA (8 mi); Richmond, VA (19 mi); Newport News, VA (45 mi); Suffolk, VA (55 mi); Hampton, VA (58 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Colonial Heights, VA (6 mi); Claremont, VA (19 mi); Waverly, VA (21 mi), per US Census Bureau estimates.
What a personal loan costs in Hopewell
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 term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Virginia lending rules that apply in Hopewell
The Virginia rate caps and licensing rules that reach Hopewell are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal via licensed short-term lenders; interest capped at a 36% simple annual rate plus limited fees (Va. Code § 6.2-1817) Source says: Interest at a simple annual rate not to exceed 36 percent | Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance license required from the State Corporation Commission (Va. Code § 6.2-1501) Source says: No person shall engage in the business of making loans to individuals for personal, family, household, or other nonbusiness purposes | Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
| State lending regulator | Virginia State Corporation Commission, Bureau of Financial Institutions (BFI) Source says: The Bureau of Financial Institutions (BFI) is a regulatory division of the Virginia State Corporation Commission (SCC.) | Virginia State Corporation Commission (SCC) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per year maximum contract rate, except as otherwise permitted by law (Va. Code § 6.2-303) Source says: no contract shall be made for the payment of interest on a loan at a rate that exceeds 12 percent per year | Virginia General Assembly (Code of Virginia) as of 2026-09-16 |
How to compare offers in Hopewell
The steps below are worth completing first when you borrow in Hopewell:
- 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 Virginia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.