Vardaman at a glance
- Population: a Census-estimated 1,058, placing it 149th among Mississippi's 299 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,114 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 5.0% since the 2020 count (US Census Bureau).
- Rank among Mississippi places: 149th by size among 299 communities (US Census Bureau).
- Size percentile: ahead of around 50% of Mississippi places in population terms (US Census Bureau).
- Coordinates: mapped at 33.8822, -89.1778 by the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Calhoun City, MS (8 mi); Houston, MS (10 mi); Bruce, MS (12 mi); Eupora, MS (24 mi); Okolona, MS (26 mi) (US Census Bureau).
- Nearest smaller communities: Derma, MS (7 mi); Pittsboro, MS (10 mi); Woodland, MS (10 mi), each a US Census place.
What a personal loan costs in Vardaman
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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 longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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.
Mississippi lending rules that apply in Vardaman
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Mississippi Department of Banking and Consumer Finance (DBCF) Source says: "The Mississippi Department of Banking and Consumer Finance's (DBCF) mission is to regulate, supervise and safeguard financial institutions chartered and licensed in Mississippi" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Delayed-deposit (payday) fee caps | $20 per $100 advanced on checks ≤$250; $21.95 per $100 on checks over $250 (DBCF rule) Source says: "Delayed deposit transaction: $20.00 per $100.00 advanced for checks $250.00 and under" | Mississippi Secretary of State (DBCF administrative regulations) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: the maximum finance charge for licensed small-loan lenders is set by Miss. Code § 75-17-21, which § 75-67-119 references as the limit; no retrievable official page published the current figure for direct verification. | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Payday lending status | Legal and licensed — check cashers (delayed-deposit/payday transactions) are licensed consumer-finance industries regulated by DBCF (Miss. Code § 75-67-501 et seq.) Source says: "These industries include Money Transmitter, Small Loan, Check Cashers, Pawnbroker, Title Pledge, Consumer Loan Broker" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Small-loan / installment lender licensing | Small loan license required (Small Loan Regulatory Law; Miss. Code § 75-67-105) Source says: "No person shall engage in the business of lending money ... without being the holder of a valid and subsisting license" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
How to compare offers in Vardaman
The steps below are worth completing first when you borrow in Vardaman:
- 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 Mississippi using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.