Milltown at a glance
- Population: about 6,968 residents, ranking 161st of 323 Census places in New Jersey (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 7,039 (US Census Bureau).
- 2020 to 2023 change: about 1.0% lower than the 2020 Census base (US Census Bureau).
- Rank among New Jersey places: 161st of 323 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 50% of New Jersey's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 40.4502, -74.4348 by the US Census Bureau Gazetteer.
- Nearest larger cities: New Brunswick, NJ (3 mi); South River, NJ (3 mi); Highland Park, NJ (4 mi); Spotswood, NJ (4 mi); Sayreville, NJ (6 mi); US Census Bureau population estimates.
- Nearest smaller places: Helmetta, NJ (5 mi); Jamesburg, NJ (7 mi); South Bound Brook, NJ (9 mi) (US Census Bureau estimates).
What a personal loan costs in Milltown
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed 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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
New Jersey lending rules that apply in Milltown
Each row below is a New Jersey rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Milltown
A few practical steps will make the process in Milltown less costly:
- 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 Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.