Morris Plains at a glance
- Population: a Census-estimated 6,538, placing it 167th among New Jersey's 323 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 6,148 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 6.3% higher than at the 2020 Census (US Census Bureau).
- Rank among New Jersey places: 167th out of 323 Census places (US Census Bureau).
- Size percentile: larger than about 48% of the Census places in New Jersey (US Census Bureau).
- Coordinates: latitude 40.8388, longitude -74.4742 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Morristown, NJ (3 mi); Rockaway, NJ (5 mi); Dover, NJ (5 mi); Boonton, NJ (6 mi); Florham Park, NJ (6 mi) (US Census Bureau populations).
- Smaller places close by: Mountain Lakes, NJ (4 mi); Victory Gardens, NJ (4 mi); Mendham, NJ (8 mi) (US Census Bureau).
What a personal loan costs in Morris Plains
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
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.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
New Jersey lending rules that apply in Morris Plains
Each row below is a New Jersey rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Morris Plains
Before you share your details with a lender in Morris Plains:
- 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 Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.