Oak Park Heights at a glance
- Population: 4,678 residents, the 164th-largest of 853 places in Minnesota (US Census Bureau, Vintage 2023).
- 2020 Census base: 4,845 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: roughly 3.4% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 164th of the state's 853 Census places (US Census Bureau).
- Size percentile: about 81% of Minnesota's Census places are smaller (US Census Bureau).
- Coordinates: 45.0334, -92.8102 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Stillwater, MN (2 mi); Lake Elmo, MN (6 mi); Hudson, WI (6 mi); Mahtomedi, MN (8 mi); Oakdale, MN (8 mi) (US Census Bureau populations).
- Nearest smaller places: Bayport, MN (2 mi); North Hudson, WI (4 mi); Lakeland, MN (6 mi) (US Census Bureau estimates).
What a personal loan costs in Oak Park Heights
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Minnesota lending rules that apply in Oak Park Heights
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| 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 Oak Park Heights
Before you share your details with a lender in Oak Park Heights:
- 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.