Demarest at a glance
- Population: 4,846, the 199th-largest community in New Jersey out of 323 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 4,981 (US Census Bureau).
- 2020 to 2023 change: down roughly 2.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among New Jersey places: 199th of the state's 323 Census places (US Census Bureau).
- Size percentile: about 38% of places in New Jersey are smaller (US Census Bureau).
- Coordinates: latitude 40.9541, longitude -73.9549 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Cresskill, NJ (1 mi); Closter, NJ (1 mi); Dumont, NJ (2 mi); Tenafly, NJ (2 mi); Norwood, NJ (3 mi) (US Census Bureau).
- Smaller places nearby: Alpine, NJ (2 mi); Haworth, NJ (2 mi); Rockleigh, NJ (3 mi), per US Census Bureau estimates.
What a personal loan costs in Demarest
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
New Jersey lending rules that apply in Demarest
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Demarest
A few practical steps will make the process in Demarest 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.