Otisville at a glance
- Population: about 807 residents, ranking 384th of 533 Census places in Michigan (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 818 (US Census Bureau).
- 2020 to 2023 change: population fell about 1.3% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Michigan places: 384th of 533 by population (US Census Bureau, Vintage 2023).
- Size percentile: ahead of around 28% of Michigan places in population terms (US Census Bureau).
- Coordinates: it sits at 43.1653, -83.5253 in the US Census Bureau Gazetteer.
- Nearest larger cities: Millington, MI (7 mi); Davison, MI (9 mi); Mount Morris, MI (9 mi); Clio, MI (11 mi); Burton, MI (12 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Otter Lake, MI (5 mi); Columbiaville, MI (6 mi); Metamora, MI (19 mi) (US Census Bureau).
What a personal loan costs in Otisville
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Michigan lending rules that apply in Otisville
Read the table as the compliance picture for a lender serving Otisville: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Otisville
Before you share your details with a lender in Otisville:
- 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.