Monticello at a glance
- Population: about 4,056, 102nd by size in Iowa of 940 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 4,043 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: an increase of about 0.3% since the 2020 count (US Census Bureau).
- Rank among Iowa places: 102nd out of 940 Census places (US Census Bureau).
- Size percentile: it is larger than about 89% of the places in Iowa (US Census Bureau).
- Coordinates: 42.2304, -91.1859 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Anamosa, IA (10 mi); Dyersville, IA (18 mi); Manchester, IA (22 mi); Marion, IA (24 mi); Mount Vernon, IA (24 mi) (US Census Bureau).
- Smaller places close by: Hopkinton, IA (8 mi); Cascade, IA (10 mi); Worthington, IA (12 mi) (US Census Bureau).
What a personal loan costs in Monticello
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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-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.
Iowa lending rules that apply in Monticello
Each row below is a Iowa rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Monticello
Before you share your details with a lender in Monticello:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.