Warren at a glance
- Population: about 136,655, 3rd by size in Michigan of 533 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 139,397 residents here (US Census Bureau).
- 2020 to 2023 change: population fell about 2.0% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Michigan places: 3rd by size among 533 communities (US Census Bureau).
- Size percentile: it exceeds roughly 99% of Michigan's Census places by population (US Census Bureau).
- Coordinates: latitude 42.4929, longitude -83.0250 (US Census Bureau Gazetteer).
- Nearest larger cities: Detroit, MI (9 mi); Toledo, OH (64 mi); Cleveland, OH (98 mi), each a US Census place with its estimated population.
- Smaller places close by: Center Line, MI (1 mi); Madison Heights, MI (4 mi); Hazel Park, MI (4 mi) (US Census Bureau).
What a personal loan costs in Warren
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Michigan lending rules that apply in Warren
Each row below is a Michigan rule with its publisher and the date it was retrieved.
| 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 Warren
Before you commit to a personal loan in Warren, work through these steps:
- 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.