Lapeer at a glance
- Population: 9,128, the 98th-largest community in Michigan out of 533 (US Census Bureau, Vintage 2023).
- 2020 Census base: 9,048 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: population rose about 0.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Michigan places: the 98th-largest of 533 (US Census Bureau, 2023 estimate).
- Size percentile: about 82% of places in Michigan are smaller (US Census Bureau).
- Coordinates: 43.0451, -83.3267 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Burton, MI (15 mi); Flint, MI (19 mi); Auburn Hills, MI (26 mi); Fenton, MI (26 mi); Rochester, MI (27 mi) (US Census Bureau).
- Nearest smaller towns: Metamora, MI (7 mi); Columbiaville, MI (8 mi); Davison, MI (10 mi) — US Census Bureau populations.
What a personal loan costs in Lapeer
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Michigan lending rules that apply in Lapeer
Each row below is a Michigan rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal and licensed — deferred presentment service transactions (2005 PA 244; MCL 487.2121 et seq.), licensed and regulated by DIFS Source says: "AN ACT to regulate the business of providing deferred presentment service transactions; to require the licensing of providers of deferred presentment service transactions" | Michigan Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | License required from the commissioner to make regulated loans (Regulatory Loan Act, MCL 493.1 et seq.) Source says: "a person shall not engage in the business of making loans of money ... without first obtaining a license from the commissioner" | Michigan Legislature as of 2026-09-16 |
| State lending regulator | Michigan Department of Insurance and Financial Services (DIFS) Source says: ""Department" means the department of insurance and financial services" | Michigan Legislature as of 2026-09-16 |
| Regulated lender interest/finance charge cap | 25% per annum (Credit Reform Act, MCL 445.1854(1)) Source says: "may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum" | Michigan Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum maximum by written agreement; 5% legal rate (MCL 438.31) Source says: "it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding 7% per annum" | Michigan Legislature as of 2026-09-16 |
How to compare offers in Lapeer
Before you share your details with a lender in Lapeer:
- 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 Michigan using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.