Andover at a glance
- Population: roughly 895 people; 441st of 595 places in New York (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 913 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 2.0% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among New York places: the 441st-largest of 595 (US Census Bureau, 2023 estimate).
- Size percentile: it exceeds roughly 26% of New York's Census places by population (US Census Bureau).
- Coordinates: 42.1570, -77.7961 (US Census Bureau Gazetteer).
- Nearest larger cities: Alfred, NY (7 mi); Wellsville, NY (8 mi); Canisteo, NY (13 mi); Hornell, NY (14 mi); Bolivar, NY (20 mi) (Census populations, approximate straight-line distance).
- Smaller places nearby: Almond, NY (12 mi); Belmont, NY (13 mi); North Hornell, NY (15 mi), per US Census Bureau estimates.
What a personal loan costs in Andover
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our 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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
New York lending rules that apply in Andover
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Andover
Before you commit to a personal loan in Andover, 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 New York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.