Revere at a glance
- Population: the Census estimates 57,954 residents, ranking 21st of 54 places in Massachusetts (Vintage 2023).
- 2020 Census base: 62,208 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 6.8% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Massachusetts places: 21st in population of 54 places (US Census Bureau).
- Size percentile: about 61% of places in Massachusetts are smaller (US Census Bureau).
- Coordinates: 42.4210 latitude, -70.9904 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Malden, MA (4 mi); Lynn, MA (4 mi); Boston, MA (6 mi); Somerville, MA (6 mi); Medford, MA (6 mi) (Census populations, approximate straight-line distance).
- Smaller places close by: Chelsea, MA (3 mi); Winthrop Town, MA (3 mi); Everett, MA (3 mi) (US Census Bureau).
What a personal loan costs in Revere
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Massachusetts lending rules that apply in Revere
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 |
|---|---|---|
| Small-loan / installment lender licensing | Small-loan license required for loans of $6,000 or less when interest and expenses exceed 12% per year (M.G.L. c. 140, § 96) Source says: "No person shall directly or indirectly engage in the business of making loans of six thousand dollars or less ... without first obtaining ... a license" | Massachusetts General Court as of 2026-09-16 |
| State lending regulator | Division of Banks (Office of the Commissioner of Banks) Source says: "The Division of Banks (DOB) cautions you when applying for a payday loan" | Massachusetts Division of Banks as of 2026-09-16 |
| Small-loan rate order | Maximum 23% per annum plus a $20 administrative fee (209 CMR 26.00/26.01) Source says: "Regulation 209 CMR 26.00 et seq. limits the annual interest rate that can be charged on small loans to 23%" | Massachusetts Division of Banks as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 20% per annum criminal-usury threshold (M.G.L. c. 271, § 49); statutory exceptions apply Source says: "interest and expenses the aggregate of which exceeds an amount greater than twenty per centum per annum upon the sum loaned" | Massachusetts General Court as of 2026-09-16 |
| Payday lending status | Restricted: DOB states payday lending is not prohibited, but a 'payday loan' is illegal due to the high APR Source says: "Payday lending is not prohibited in Massachusetts. Yet what is referred to as a 'payday loan' is illegal" | Massachusetts Division of Banks as of 2026-09-16 |
How to compare offers in Revere
Run through this list before signing anything in Revere:
- 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 Massachusetts using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.