Cheverly at a glance
- Population: the Census estimates 6,015 residents, ranking 37th of 157 places in Maryland (Vintage 2023).
- 2020 Census base: 6,167 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 2.5% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Maryland places: 37th by size among 157 communities (US Census Bureau).
- Size percentile: ahead of around 76% of Maryland places in population terms (US Census Bureau).
- Coordinates: 38.9259, -76.9135 (Census Gazetteer, US Census Bureau).
- Nearest larger cities within 120 miles: Bladensburg, MD (1 mi); Riverdale Park, MD (3 mi); Mount Rainier, MD (3 mi); Glenarden, MD (3 mi); Hyattsville, MD (3 mi) (US Census Bureau).
- Smaller places close by: Landover Hills, MD (2 mi); Colmar Manor, MD (2 mi); Fairmount Heights, MD (2 mi) (US Census Bureau).
What a personal loan costs in Cheverly
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Maryland lending rules that apply in Cheverly
Read the table as the compliance picture for a lender serving Cheverly: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 24% per year effective simple interest for qualifying loans (Md. Code Com. Law § 12-103(c)); otherwise 8% (written agreement) or 18% Source says: "a lender may charge an effective rate of simple interest not in excess of 24 percent per year on the unpaid principal balance" | Maryland General Assembly as of 2026-09-16 |
| Payday lending status | Regulated as consumer loans: licensing and statutory interest-rate limits apply to payday-style loans (OFR) Source says: "they are prohibited from charging or receiving an interest rate that is greater than authorized by the laws of this State" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Lender license required to make loans under the Maryland Consumer Loan Law (Com. Law § 12-301 et seq.) Source says: "A Consumer Lender is a business that makes any loan or advance of money or credit under the Maryland Consumer Loan Law" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| State lending regulator | Office of Financial Regulation; Commissioner of Financial Regulation (Maryland Department of Labor) Source says: "is Maryland's consumer financial protection agency and financial services regulator" | Maryland Department of Labor as of 2026-09-16 |
| OFR consumer-loan interest-rate limits | 2.75%/month (33%/yr) on the first $1,000 of a loan ≤$2,000; 2%/month (24%/yr) thereafter and on loans over $2,000 Source says: "Maximum interest rate allowed by law is 2.75% per month or an annual interest rate of 33%" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
How to compare offers in Cheverly
The steps below are worth completing first when you borrow in Cheverly:
- 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 Maryland using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.