Hot Springs at a glance
- Population: about 617 residents, ranking 74th of 127 Census places in Montana (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 560 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up roughly 10.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Montana places: the 74th-largest of 127 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 42% of places in Montana rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 47.6092, -114.6704.
- Nearest larger cities: Plains, MT (14 mi); Polson, MT (25 mi); Ronan, MT (27 mi); Superior, MT (31 mi); Thompson Falls, MT (31 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Alberton, MT (43 mi); Wardner, ID (69 mi); Clark Fork, ID (79 mi) (US Census Bureau).
What a personal loan costs in Hot Springs
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Montana lending rules that apply in Hot Springs
Read the table as the compliance picture for a lender serving Hot Springs: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | Greater of 15% or prime rate + 6 percentage points per year (written agreement); regulated lenders exempt Source says: "Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15%" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must be licensed; fee capped at 36% per annum Source says: "A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36% per annum" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer loan license required under the Montana Consumer Loan Act (32-5-101); licensing through NMLS Source says: "A consumer loan license is needed to engage in business as defined in the Montana Consumer Loan Act" | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| State lending regulator | Montana Division of Banking and Financial Institutions (BFID), Department of Administration Source says: "The Montana Division of Banking and Financial Institutions (Division) does all of its licensing through the Nationwide Multistate Licensing System (NMLS)." | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| Deferred deposit loan license requirement (MCA 31-1-705) | A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department Source says: "A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department." | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
How to compare offers in Hot Springs
A few practical steps will make the process in Hot Springs 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 Montana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.