Andover at a glance
- Population: 603 residents, the 309th-largest of 323 places in New Jersey (US Census Bureau, Vintage 2023).
- 2020 Census base: 594 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up about 1.5% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among New Jersey places: 309th in population of 323 places (US Census Bureau).
- Size percentile: about 4% of places in New Jersey are smaller (US Census Bureau).
- Coordinates: it sits at 40.9857, -74.7437 in the US Census Bureau Gazetteer.
- Nearest larger cities: Newton, NJ (5 mi); Hopatcong, NJ (5 mi); Stanhope, NJ (5 mi); Netcong, NJ (6 mi); Mount Arlington, NJ (7 mi); US Census Bureau population estimates.
- Nearest smaller communities: Portland, PA (19 mi); Millstone, NJ (34 mi); Glendon, PA (34 mi) (Census populations).
What a personal loan costs in Andover
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
New Jersey lending rules that apply in Andover
The table lists the New Jersey rules that apply to a loan made in Andover, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Andover
A few practical steps will make the process in Andover less costly:
- 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 Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.