Hempstead at a glance
- Population: about 58,225 residents, ranking 12th of 595 Census places in New York (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 59,183 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.6% below the 2020 Census base (US Census Bureau).
- Rank among New York places: 12th of the state's 595 Census places (US Census Bureau).
- Size percentile: ahead of around 98% of New York places in population terms (US Census Bureau).
- Coordinates: mapped at 40.7044, -73.6194 by the US Census Bureau Gazetteer.
- Nearest larger cities: New York, NY (17 mi); New Rochelle, NY (17 mi); Mount Vernon, NY (18 mi); Yonkers, NY (21 mi); Union City, NJ (22 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Garden City, NY (2 mi); Rockville Centre, NY (3 mi); Mineola, NY (3 mi) (US Census Bureau estimates).
What a personal loan costs in Hempstead
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
New York lending rules that apply in Hempstead
Each row below is a New York rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Hempstead
Before you commit to a personal loan in Hempstead, 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.