Fenton at a glance
- Population: 11,863 — 79th in Michigan, which has 533 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 12,044 residents here (US Census Bureau).
- 2020 to 2023 change: a loss of about 1.5% since the 2020 count (US Census Bureau).
- Rank among Michigan places: 79th-largest of 533 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 85% of places in Michigan rank below it by population (US Census Bureau).
- Coordinates: latitude 42.8006, longitude -83.7177 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Burton, MI (15 mi); Flint, MI (16 mi); Wixom, MI (21 mi); South Lyon, MI (24 mi); Pontiac, MI (24 mi) (US Census Bureau).
- Nearest smaller places: Linden, MI (3 mi); Holly, MI (5 mi); Grand Blanc, MI (10 mi) (US Census Bureau estimates).
What a personal loan costs in Fenton
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Michigan lending rules that apply in Fenton
Read the table as the compliance picture for a lender serving Fenton: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Michigan Department of Insurance and Financial Services (DIFS) Source says: ""Department" means the department of insurance and financial services" | Michigan Legislature as of 2026-09-16 |
| Regulated lender interest/finance charge cap | 25% per annum (Credit Reform Act, MCL 445.1854(1)) Source says: "may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum" | Michigan Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum maximum by written agreement; 5% legal rate (MCL 438.31) Source says: "it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding 7% per annum" | Michigan Legislature as of 2026-09-16 |
| Payday lending status | Legal and licensed — deferred presentment service transactions (2005 PA 244; MCL 487.2121 et seq.), licensed and regulated by DIFS Source says: "AN ACT to regulate the business of providing deferred presentment service transactions; to require the licensing of providers of deferred presentment service transactions" | Michigan Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | License required from the commissioner to make regulated loans (Regulatory Loan Act, MCL 493.1 et seq.) Source says: "a person shall not engage in the business of making loans of money ... without first obtaining a license from the commissioner" | Michigan Legislature as of 2026-09-16 |
How to compare offers in Fenton
A few practical steps will make the process in Fenton 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 Michigan using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.