Lake Mills at a glance
- Population: 6,602 (US Census Bureau, Vintage 2023 subcounty estimate), the 134th-largest of 605 places in Wisconsin.
- 2020 Census base: 6,220 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: an increase of about 6.1% since the 2020 count (US Census Bureau).
- Rank among Wisconsin places: 134th-largest of 605 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it is larger than about 78% of the places in Wisconsin (US Census Bureau).
- Coordinates: latitude 43.0776, longitude -88.9064 (US Census Bureau Gazetteer).
- Nearest larger cities: Jefferson, WI (7 mi); Fort Atkinson, WI (11 mi); Watertown, WI (12 mi); Cottage Grove, WI (15 mi); Sun Prairie, WI (18 mi), each a US Census place with its estimated population.
- Smaller towns nearby: Johnson Creek, WI (7 mi); Cambridge, WI (8 mi); Waterloo, WI (8 mi) (US Census Bureau).
What a personal loan costs in Lake Mills
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Wisconsin lending rules that apply in Lake Mills
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Licensed lender license required from the Division of Banking (Wis. Stat. § 138.09) Source says: Before any person may do business under this section, that person shall first obtain a license from the division. | Wisconsin State Legislature as of 2026-09-16 |
| State lending regulator | Wisconsin Department of Financial Institutions (DFI), Division of Banking Source says: "Department" means the department of financial institutions | Wisconsin State Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per year maximum ($12 per $100) on the declining principal balance, except as authorized by other statutes (Wis. Stat. § 138.05(1)(a)) Source says: At the rate of $12 upon $100 for one year computed upon the declining principal balance of the loan or forbearance | Wisconsin State Legislature as of 2026-09-16 |
| Payday lending status | Legal and licensed by the DFI Division of Banking; statewide database tracking (Wis. Stat. § 138.14) Source says: "Licensee" means a person holding a license issued by the division under sub. (5) | Wisconsin State Legislature as of 2026-09-16 |
How to compare offers in Lake Mills
Before you share your details with a lender in Lake Mills:
- 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 Wisconsin using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.