Mountain Lakes at a glance
- Population: the Census estimates 4,608 residents, ranking 204th of 323 places in New Jersey (Vintage 2023).
- 2020 Census base: 4,472 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 3.0% growth over the 2020 Census base (US Census Bureau).
- Rank among New Jersey places: 204th-largest of 323 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: larger than about 37% of the Census places in New Jersey (US Census Bureau).
- Coordinates: 40.8909 / -74.4420, per the US Census Bureau Gazetteer.
- Nearest larger cities: Boonton, NJ (2 mi); Rockaway, NJ (4 mi); Morris Plains, NJ (4 mi); Dover, NJ (6 mi); Morristown, NJ (7 mi); US Census Bureau population estimates.
- Smaller towns nearby: Victory Gardens, NJ (5 mi); Essex Fells, NJ (10 mi); Riverdale, NJ (10 mi) (US Census Bureau).
What a personal loan costs in Mountain Lakes
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
New Jersey lending rules that apply in Mountain Lakes
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mountain Lakes
The steps below are worth completing first when you borrow in Mountain Lakes:
- 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.