Altoona at a glance
- Population: 21,698 residents, the 26th-largest of 940 places in Iowa (US Census Bureau, Vintage 2023).
- 2020 Census base: 19,593 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: roughly 10.7% higher than at the 2020 Census (US Census Bureau).
- Rank among Iowa places: 26th largest of 940 (US Census Bureau).
- Size percentile: about 97% of places in Iowa are smaller (US Census Bureau).
- Coordinates: it sits at 41.6506, -93.4800 in the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Ankeny, IA (8 mi); Des Moines, IA (9 mi); Johnston, IA (13 mi); Urbandale, IA (16 mi); West Des Moines, IA (17 mi) (US Census Bureau).
- Nearest smaller communities: Bondurant, IA (4 mi); Pleasant Hill, IA (4 mi); Mitchellville, IA (6 mi), each a US Census place.
What a personal loan costs in Altoona
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would 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.
Iowa lending rules that apply in Altoona
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Altoona
The order below is a sensible way to approach a loan in Altoona:
- 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.