Shoreham at a glance
- Population: the Census estimates 522 residents, ranking 517th of 595 places in New York (Vintage 2023).
- 2020 Census base: 522 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: little measurable change between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among New York places: 517th out of 595 Census places (US Census Bureau).
- Size percentile: ahead of around 13% of New York places in population terms (US Census Bureau).
- Coordinates: 40.9571 latitude, -72.9071 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Port Jefferson, NY (8 mi); Belle Terre, NY (8 mi); Poquott, NY (10 mi); Old Field, NY (12 mi); Lake Grove, NY (13 mi) (US Census Bureau).
- Smaller towns nearby: West Hampton Dunes, NY (16 mi); Ocean Beach, NY (25 mi); Saltaire, NY (27 mi) (US Census Bureau).
What a personal loan costs in Shoreham
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.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
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.
New York lending rules that apply in Shoreham
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
How to compare offers in Shoreham
Before you share your details with a lender in Shoreham:
- 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 York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.