Northome at a glance
- Population: a Census-estimated 154, placing it 697th among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 156 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 1.3% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 697th by size among 853 communities (US Census Bureau).
- Size percentile: roughly 18% of places in Minnesota rank below it by population (US Census Bureau).
- Coordinates: 47.8744 latitude, -94.2683 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Kelliher, MN (9 mi); Blackduck, MN (17 mi); Tenstrike, MN (24 mi); Bigfork, MN (30 mi); Big Falls, MN (30 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Mizpah, MN (4 mi); Funkley, MN (10 mi); Squaw Lake, MN (19 mi) — US Census Bureau populations.
What a personal loan costs in Northome
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Minnesota lending rules that apply in Northome
Each row below is a Minnesota rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Payday ability-to-repay requirement | Required for payday loans with an APR above 36% (Minn. Stat. § 47.603) Source says: "This section applies to all payday loans with an annual percentage rate that exceeds 36 percent." | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per year legal rate of interest; a different rate may be contracted for in writing (Minn. Stat. § 334.01) Source says: "The interest for any legal indebtedness shall be at the rate of $6 upon $100 for a year" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed; APR capped at 36%, or up to 50% with an ability-to-repay analysis (Minn. Stat. §§ 47.60, 47.601, 47.603) Source says: "The cap on that annual percentage rate is set at either 36%, or up to 50% if the lender conducts an ability to repay analysis" | Minnesota Department of Commerce as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated loan license required from the commissioner for loans within the Chapter 56 threshold (Minn. Stat. § 56.01) Source says: "without first obtaining a license from the commissioner, no person shall engage in the business of making loans of money" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| State lending regulator | Minnesota Department of Commerce (commissioner of commerce) Source says: ""Commissioner" means the commissioner of commerce" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
How to compare offers in Northome
The order below is a sensible way to approach a loan in Northome:
- 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 Minnesota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.