Washington at a glance
- Population: a Census-estimated 678,972, placing it 1st among District of Columbia's 1 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 689,548 residents here (US Census Bureau).
- 2020 to 2023 change: about 1.5% below the 2020 Census base (US Census Bureau).
- Rank among District of Columbia places: 1st of the state's 1 Census places (US Census Bureau).
- Size percentile: it is larger than about 0% of the places in District of Columbia (US Census Bureau).
- Coordinates: latitude 38.9042, longitude -77.0165 (US Census Bureau Gazetteer).
- Nearest larger cities: none within the 120-mile radius we measure from Washington.
- Smaller places close by: Mount Rainier, MD (4 mi); Colmar Manor, MD (4 mi); Brentwood, MD (4 mi) (US Census Bureau).
What a personal loan costs in Washington
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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 useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
District of Columbia lending rules that apply in Washington
The table carries the District of Columbia rate and licensing rules that apply to consumer loans made in Washington.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Not permitted — check cashers may not advance money on post-dated checks; the 24% usury ceiling applies to loans Source says: "No licensee shall at any time cash or advance any monies on a post dated check". | Council of the District of Columbia — D.C. Code § 26-319 as of 2026-09-16 |
| Small-loan / installment lender licensing | Money lender license required to lend at more than 6% per annum; $500 annual license tax; issued as a financial services endorsement Source says: "loaning money upon which a rate of interest greater than 6% per annum is charged on any security of any kind"; "without procuring license". | Council of the District of Columbia — D.C. Code § 26-901 as of 2026-09-16 |
| State lending regulator | District of Columbia Department of Insurance, Securities and Banking (DISB) Source says: "DISB regulates the following financial services entities"; including "check cashers, money transmitters, consumer sales finance companies, money lenders". | District of Columbia Department of Insurance, Securities and Banking as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 24% per annum (exemptions apply, including certain loans over $2,500 and mortgage-secured loans) Source says: "may contract therein for the payment of interest on the principal amount thereof at a rate not exceeding 24% per annum". | Council of the District of Columbia — D.C. Code § 28-3301 as of 2026-09-16 |
How to compare offers in Washington
Before you commit to a personal loan in Washington, work through these steps:
- 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 District of Columbia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.