Lake Grove at a glance
- Population: 11,021 people, the 77th-largest place among New York's 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 11,054 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a loss of about 0.3% since the 2020 count (US Census Bureau).
- Rank among New York places: 77th in population of 595 places (US Census Bureau).
- Size percentile: it is larger than about 87% of the places in New York (US Census Bureau).
- Coordinates: 40.8578 latitude, -73.1168 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Patchogue, NY (8 mi); Babylon, NY (16 mi); Lindenhurst, NY (18 mi); Massapequa Park, NY (21 mi); Norwalk, CT (23 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Village of the Branch, NY (3 mi); Head of the Harbor, NY (4 mi); Islandia, NY (5 mi) — US Census Bureau populations.
What a personal loan costs in Lake Grove
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
New York lending rules that apply in Lake Grove
The sourced rows below are the rules a licensed lender must follow when lending in New York, and therefore in Lake Grove.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lake Grove
These steps are the ones that most affect the offer you receive in Lake Grove:
- 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.