Ham Lake at a glance
- Population: a Census-estimated 16,726, placing it 68th among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 16,473 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population rose about 1.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 68th largest of 853 (US Census Bureau).
- Size percentile: it exceeds roughly 92% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 45.2539 / -93.1948, per the US Census Bureau Gazetteer.
- Nearest larger cities: Blaine, MN (6 mi); Andover, MN (7 mi); Coon Rapids, MN (8 mi); Lino Lakes, MN (8 mi); Anoka, MN (10 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Columbus, MN (4 mi); East Bethel, MN (7 mi); Circle Pines, MN (8 mi) (Census populations).
What a personal loan costs in Ham Lake
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Minnesota lending rules that apply in Ham Lake
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Payday ability-to-repay requirement | Required for payday loans with an APR above 36% (Minn. Stat. § 47.603) Source says: "This section applies to all payday loans with an annual percentage rate that exceeds 36 percent." | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per year legal rate of interest; a different rate may be contracted for in writing (Minn. Stat. § 334.01) Source says: "The interest for any legal indebtedness shall be at the rate of $6 upon $100 for a year" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed; APR capped at 36%, or up to 50% with an ability-to-repay analysis (Minn. Stat. §§ 47.60, 47.601, 47.603) Source says: "The cap on that annual percentage rate is set at either 36%, or up to 50% if the lender conducts an ability to repay analysis" | Minnesota Department of Commerce as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated loan license required from the commissioner for loans within the Chapter 56 threshold (Minn. Stat. § 56.01) Source says: "without first obtaining a license from the commissioner, no person shall engage in the business of making loans of money" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| State lending regulator | Minnesota Department of Commerce (commissioner of commerce) Source says: ""Commissioner" means the commissioner of commerce" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
How to compare offers in Ham Lake
The order below is a sensible way to approach a loan in Ham Lake:
- 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 Minnesota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.