Garrett Park at a glance
- Population: 982 (US Census Bureau, Vintage 2023 subcounty estimate), the 100th-largest of 157 places in Maryland.
- 2020 Census base: 993 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 1.1% lower than the 2020 Census base (US Census Bureau).
- Rank among Maryland places: 100th out of 157 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 36% of Maryland's Census places by population (US Census Bureau).
- Coordinates: 39.0361, -77.0935 (US Census Bureau Gazetteer).
- Nearest larger cities: Kensington, MD (1 mi); Chevy Chase View, MD (1 mi); Chevy Chase, MD (4 mi); Chevy Chase Village, MD (5 mi); Rockville, MD (5 mi); US Census Bureau population estimates.
- Smaller places nearby: North Chevy Chase, MD (3 mi); Chevy Chase Section Five, MD (4 mi); Chevy Chase Section Three, MD (4 mi), per US Census Bureau estimates.
What a personal loan costs in Garrett Park
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Maryland lending rules that apply in Garrett Park
The Maryland rate caps and licensing rules that reach Garrett Park are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Garrett Park
The order below is a sensible way to approach a loan in Garrett Park:
- 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.