Mahtomedi at a glance
- Population: 8,184 people, the 119th-largest place among Minnesota's 853 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 8,146 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population rose about 0.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 119th by size among 853 communities (US Census Bureau).
- Size percentile: about 86% of Minnesota's Census places are smaller (US Census Bureau).
- Coordinates: 45.0583, -92.9702 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: White Bear Lake, MN (2 mi); North St. Paul, MN (3 mi); Maplewood, MN (4 mi); Vadnais Heights, MN (5 mi); Oakdale, MN (5 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Birchwood Village, MN (0 mi); Willernie, MN (1 mi); Pine Springs, MN (2 mi) (Census populations).
What a personal loan costs in Mahtomedi
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Minnesota lending rules that apply in Mahtomedi
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Mahtomedi.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mahtomedi
These steps are the ones that most affect the offer you receive in Mahtomedi:
- 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.