Montrose at a glance
- Population: the Census estimates 727 residents, ranking 354th of 940 places in Iowa (Vintage 2023).
- 2020 Census base: 745 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 2.4% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Iowa places: the 354th-largest of 940 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 62% of the Census places in Iowa (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 40.5253, -91.4184.
- Nearest larger cities: Nauvoo, IL (2 mi); Fort Madison, IA (8 mi); Keokuk, IA (8 mi); Hamilton, IL (10 mi); Donnellson, IA (11 mi); each population is a US Census Bureau estimate.
- Smaller towns nearby: Franklin, IA (11 mi); Alexandria, MO (12 mi); Wayland, MO (12 mi) (US Census Bureau).
What a personal loan costs in Montrose
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Iowa lending rules that apply in Montrose
Each row below is a Iowa rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Montrose
The order below is a sensible way to approach a loan in Montrose:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.