Chevy Chase at a glance
- Population: 2,866 (US Census Bureau, Vintage 2023 subcounty estimate), the 62nd-largest of 157 places in Maryland.
- 2020 Census base: 2,902 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down about 1.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Maryland places: 62nd by size among 157 communities (US Census Bureau).
- Size percentile: about 61% of Maryland's Census places are smaller (US Census Bureau).
- Coordinates: 38.9819 latitude, -77.0832 longitude (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Takoma Park, MD (4 mi); Washington, DC (6 mi); Mount Rainier, MD (7 mi); Hyattsville, MD (7 mi); Brentwood, MD (7 mi) (US Census Bureau).
- Nearest smaller towns: Chevy Chase Section Five, MD (1 mi); Chevy Chase Section Three, MD (1 mi); Martin's Additions, MD (1 mi) (US Census Bureau).
What a personal loan costs in Chevy Chase
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
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.
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.
Maryland lending rules that apply in Chevy Chase
The table carries the Maryland rate and licensing rules that apply to consumer loans made in Chevy Chase.
| 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 Chevy Chase
Run through this list before signing anything in Chevy Chase:
- 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.