Underwood at a glance
- Population: a Census-estimated 774, placing it 67th among North Dakota's 355 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 788 (US Census Bureau).
- 2020 to 2023 change: about 1.8% below the 2020 Census base (US Census Bureau).
- Rank among North Dakota places: 67th in population of 355 places (US Census Bureau).
- Size percentile: larger than about 81% of the Census places in North Dakota (US Census Bureau).
- Coordinates: mapped at 47.4564, -101.1412 by the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Washburn, ND (12 mi); Garrison, ND (19 mi); Hazen, ND (25 mi); Beulah, ND (32 mi); Velva, ND (43 mi) (US Census Bureau populations).
- Nearest smaller places: Coleharbor, ND (7 mi); Riverdale, ND (11 mi); Turtle Lake, ND (13 mi) (US Census Bureau estimates).
What a personal loan costs in Underwood
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
North Dakota lending rules that apply in Underwood
The table lists the North Dakota rules that apply to a loan made in Underwood, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Usury penalties (state-specific rule) | Usury forfeits all interest plus 25% of principal; charging usurious interest is a class B misdemeanor. Source says: "shall be deemed a forfeiture of the entire interest" and "a forfeiture of twenty-five percent of the principal" (N.D.C.C. 47-14-10); usury is a class B misdemeanor (47-14-11). | North Dakota Legislative Branch as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Formula ceiling: 6-month U.S. Treasury bill average + 5.5 percentage points, never less than 7%; NDDFI-published rate for September 2026: 9.204%. Source says: "The rate is equal to five and one-half percent (5.5%) higher than the current cost of money" and "the maximum allowable interest rate ceiling may not be less than seven (7) percent" (NDDFI Usury Rate page; September 2026 rate 9.204%). | North Dakota Department of Financial Institutions as of 2026-09-16 |
| Payday lending status | Legal for licensed deferred presentment service providers; fee capped at 20% of amount advanced; max $500 per transaction; $600 aggregate outstanding per customer. Source says: "A licensee may charge a fee for the deferred presentment service, not to exceed twenty percent of the amount paid to the customer" (N.D.C.C. 13-08-12); "may not disburse more than five hundred dollars to the customer in a deferred presentment service transaction" (13-08-12.3). | North Dakota Legislative Branch as of 2026-09-16 |
| Small-loan / installment lender licensing | Money broker license required to engage in money brokering (arranging/providing loans); issued by the commissioner of financial institutions. Source says: "may not engage in money brokering in the state of North Dakota without a money broker license issued by the commissioner" (N.D.C.C. 13-04.1-02). | North Dakota Legislative Branch as of 2026-09-16 |
| State lending regulator | North Dakota Department of Financial Institutions (NDDFI) Source says: "The Department also licenses and regulates Money Brokers... Deferred Presentment Service Providers (Payday Lenders), Collection Agencies, Debt Settlement Service Providers, and Money Transmitters." | North Dakota Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Underwood
The steps below are worth completing first when you borrow in Underwood:
- 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 North Dakota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.