Personalloaned Compare rates

NM · city page

Personal loans in Des Moines, NM

Taking out a personal loan in Des Moines means a fixed monthly payment for a set term, and the APR you are quoted rests on your credit, income and debts. Des Moines's Census population of roughly 112 makes it the 95th-largest of 105 places in New Mexico. New Mexico's rate ceilings and lender-licensing requirements appear below, each with the publisher and date behind it.

By the Personalloaned Editorial Team · Last updated 2026-09-16

Compare rates Run the numbers first

Advertising disclosure: Personalloaned may receive a referral fee if you apply through a link on this page. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.

Des Moines at a glance

  • Population: 112 residents, the 95th-largest of 105 places in New Mexico (US Census Bureau, Vintage 2023).
  • 2020 Census base: the 2020 count put the population at 116 (US Census Bureau).
  • 2020 to 2023 change: down about 3.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
  • Rank among New Mexico places: 95th largest of 105 (US Census Bureau).
  • Size percentile: larger than about 10% of the Census places in New Mexico (US Census Bureau).
  • Coordinates: 36.7613, -103.8341 (Census Gazetteer, US Census Bureau).
  • Nearest larger cities (within 120 miles): Raton, NM (35 mi); Maxwell, NM (42 mi); Clayton, NM (44 mi); Trinidad, CO (46 mi); Springer, NM (51 mi) (US Census Bureau populations).
  • Smaller places nearby: Folsom, NM (8 mi); Grenville, NM (17 mi); Branson, CO (18 mi), per US Census Bureau estimates.

What a personal loan costs in Des Moines

A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.

The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.

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.

A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.

New Mexico lending rules that apply in Des Moines

The sourced rows below are the rules a licensed lender must follow when lending in New Mexico, and therefore in Des Moines.

RuleDetailSource
Payday lending statusPayday-style small loans capped at 36% APR (HB 132 of 2022; effective January 1, 2023; cap rises only if prime rate exceeds 10% for three consecutive months)
Source says: "a permitted annual percentage rate greater than thirty-six percent, calculated pursuant to 12 CFR Part 1026"		New Mexico Legislature
as of 2026-09-16
Small-loan / installment lender licensingLenders making Bank Installment Loan Act loans (other than federally insured depositories) must be licensed under the Small Loan Act (2022 requirement)
Source says: "a new requirement for lenders making loans under the BILA (other than a federally insured depository institution) to be licensed under the SLA"		New Mexico Legislature (Legislative Finance Committee fiscal impact report)
as of 2026-09-16
State lending regulatorNew Mexico Financial Institutions Division (FID), Regulation and Licensing Department
Source says: "We regulate a variety of financial institutions operating in New Mexico including:"		New Mexico Regulation and Licensing Department, Financial Institutions Division
as of 2026-09-16
Small loan company licensing/regulationSmall loan companies are a regulated institution category of the Financial Institutions Division
Source says: "Small Loan Companies"		New Mexico Regulation and Licensing Department, Financial Institutions Division
as of 2026-09-16
Maximum legal interest rate (usury cap)15% annually absent a written contract fixing a different rate (NMSA 1978, 56-8-3)
Source says: "The rate of interest, in the absence of a written contract fixing a different rate, shall be not more than fifteen percent annually"		New Mexico Compilation Commission (NMOneSource, official NMSA)
as of 2026-09-16

How to compare offers in Des Moines

Before you commit to a personal loan in Des Moines, work through these steps:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in New Mexico using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Des Moines?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Des Moines are the same as elsewhere in New Mexico.
How much can I borrow with a personal loan in Des Moines?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Des Moines require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Des Moines hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

Related