Forest Heights at a glance
- Population: 2,593 (US Census Bureau, Vintage 2023 subcounty estimate), the 65th-largest of 157 places in Maryland.
- 2020 Census base: 2,659 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 2.5% lower than the 2020 Census base (US Census Bureau).
- Rank among Maryland places: 65th by size among 157 communities (US Census Bureau).
- Size percentile: it is larger than about 59% of the places in Maryland (US Census Bureau).
- Coordinates: it sits at 38.8038, -77.0117 in the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Alexandria, VA (4 mi); Washington, DC (7 mi); Capitol Heights, MD (8 mi); District Heights, MD (8 mi); Seat Pleasant, MD (9 mi) (US Census Bureau populations).
- Smaller places nearby: Morningside, MD (7 mi); Fairmount Heights, MD (9 mi); Colmar Manor, MD (9 mi), per US Census Bureau estimates.
What a personal loan costs in Forest Heights
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
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.
Maryland lending rules that apply in Forest Heights
The Maryland rate caps and licensing rules that reach Forest Heights are listed below, each with its source and retrieval 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 Forest Heights
The order below is a sensible way to approach a loan in Forest Heights:
- 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.