Birmingham at a glance
- Population: 372, the 510th-largest community in Iowa out of 940 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 369 (US Census Bureau).
- 2020 to 2023 change: an increase of about 0.8% since the 2020 count (US Census Bureau).
- Rank among Iowa places: 510th of 940 by population (US Census Bureau, Vintage 2023).
- Size percentile: larger than about 46% of the Census places in Iowa (US Census Bureau).
- Coordinates: 40.8785 latitude, -91.9479 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Fairfield, IA (9 mi); Keosauqua, IA (10 mi); Batavia, IA (14 mi); Eldon, IA (14 mi); Salem, IA (17 mi) (US Census Bureau populations).
- Nearest smaller places: Stockport, IA (6 mi); Libertyville, IA (8 mi); Maharishi Vedic City, IA (13 mi) (US Census Bureau estimates).
What a personal loan costs in Birmingham
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.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Iowa lending rules that apply in Birmingham
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
How to compare offers in Birmingham
A few practical steps will make the process in Birmingham less costly:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.