Buchanan at a glance
- Population: roughly 2,215 people; 282nd of 595 places in New York (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 2,299 residents here (US Census Bureau).
- 2020 to 2023 change: about 3.7% below the 2020 Census base (US Census Bureau).
- Rank among New York places: 282nd in population of 595 places (US Census Bureau).
- Size percentile: it exceeds roughly 53% of New York's Census places by population (US Census Bureau).
- Coordinates: 41.2632, -73.9450 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Peekskill, NY (2 mi); Croton-on-Hudson, NY (4 mi); West Haverstraw, NY (4 mi); Haverstraw, NY (6 mi); Highland Falls, NY (7 mi) (US Census Bureau populations).
- Nearest smaller towns: Upper Nyack, NY (10 mi); Cold Spring, NY (11 mi); Nelsonville, NY (11 mi) (US Census Bureau).
What a personal loan costs in Buchanan
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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 lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
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.
New York lending rules that apply in Buchanan
The table carries the New York rate and licensing rules that apply to consumer loans made in Buchanan.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Buchanan
These steps are the ones that most affect the offer you receive in Buchanan:
- 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.