Mahaffey at a glance
- Population: 315 — 861st in Pennsylvania, which has 1,013 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 323 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down about 2.5% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Pennsylvania places: 861st in population of 1,013 places (US Census Bureau).
- Size percentile: roughly 15% of places in Pennsylvania rank below it by population (US Census Bureau).
- Coordinates: it sits at 40.8739, -78.7271 in the US Census Bureau Gazetteer.
- Nearest larger cities: Grampian, PA (9 mi); Westover, PA (9 mi); Big Run, PA (10 mi); Irvona, PA (12 mi); Sykesville, PA (13 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Newburg, PA (3 mi); New Washington, PA (4 mi); Burnside, PA (6 mi) (US Census Bureau).
What a personal loan costs in Mahaffey
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
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.
Pennsylvania lending rules that apply in Mahaffey
The Pennsylvania rate caps and licensing rules that reach Mahaffey are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Pennsylvania Department of Banking and Securities (DoBS) Source says: "The Department of Banking and Securities regulates financial services in Pennsylvania." | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Bank rate-cap exemption (state-specific rule) | Pennsylvania state-chartered banks are not subject to state interest-rate caps (Banking Code Sections 303/506 supersede the LIPL 6% cap). Source says: "Pennsylvania law does not impose any restrictions on the interest rate that Pennsylvania state-chartered banks may charge to customers." (DoBS interpretive letter, May 11, 2023). | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per annum maximum for loans of $50,000 or less where no lower rate is contracted (41 P.S. 201(a)). Source says: "the maximum lawful rate of interest for the loan or use of money... shall be six per cent per annum" (Loan Interest and Protection Law, Section 201(a)). | Pennsylvania General Assembly (Laws of Pennsylvania, Act 6 of 1974) as of 2026-09-16 |
| Payday lending status | No separate payday-lending license; non-bank lenders are limited to 6% (unlicensed) or up to 24% (CDCA-licensed), so high-cost payday loans are not permitted. Source says: "if a lender is licensed by the Department in accord with the CDCA, it can charge between 6-24% on loans under $25,000" (DoBS interpretive letter, May 11, 2023). | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Discount Company Act license required for non-mortgage consumer loans above 6%; licensed lenders may charge up to 24% on loans of $25,000 or less. Source says: "A consumer discount company is a business corporation that negotiates or makes non-mortgage loans or advances of money on credit." | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
How to compare offers in Mahaffey
The steps below are worth completing first when you borrow in Mahaffey:
- 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 Pennsylvania using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.