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Personal loans in Martin's Additions, MD

A personal loan in Martin's Additions is a fixed-payment installment loan, and the rate you are offered turns on your credit, your income and your existing debts. At about 931 residents, Martin's Additions is the 104th-largest of the 157 Census places in Maryland. The sourced table below shows the Maryland rate caps and licensing requirements that reach every loan made here.

By the Personalloaned Editorial Team · Last updated 2026-09-16

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Martin's Additions at a glance

  • Population: roughly 931 people; 104th of 157 places in Maryland (Census Vintage 2023 subcounty estimate).
  • 2020 Census base: 942 people counted in the 2020 Census (US Census Bureau).
  • 2020 to 2023 change: down about 1.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
  • Rank among Maryland places: 104th in population of 157 places (US Census Bureau).
  • Size percentile: about 34% of Maryland's Census places are smaller (US Census Bureau).
  • Coordinates: 38.9796 latitude, -77.0692 longitude (US Census Bureau Gazetteer).
  • Nearest larger cities: Chevy Chase, MD (1 mi); Chevy Chase Village, MD (1 mi); Somerset, MD (2 mi); Chevy Chase View, MD (3 mi); Kensington, MD (3 mi); each population is a US Census Bureau estimate.
  • Nearest smaller places: Chevy Chase Section Three, MD (0 mi); Chevy Chase Section Five, MD (0 mi); North Chevy Chase, MD (2 mi) (US Census Bureau estimates).

What a personal loan costs in Martin's Additions

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.

Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our 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.

If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.

Maryland lending rules that apply in Martin's Additions

The table lists the Maryland rules that apply to a loan made in Martin's Additions, each with the regulator that published it.

RuleDetailSource
OFR consumer-loan interest-rate limits2.75%/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
Payday lending statusRegulated 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 licensingConsumer 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 regulatorOffice 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

How to compare offers in Martin's Additions

Before you commit to a personal loan in Martin's Additions, work through these steps:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Maryland using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Martin's Additions?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Martin's Additions are the same as elsewhere in Maryland.
How much can I borrow with a personal loan in Martin's Additions?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Martin's Additions require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Martin's Additions hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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