Center Line at a glance
- Population: 8,354 residents, the 106th-largest of 533 places in Michigan (US Census Bureau, Vintage 2023).
- 2020 Census base: 8,548 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: population fell about 2.3% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Michigan places: 106th in population of 533 places (US Census Bureau).
- Size percentile: larger than about 80% of the Census places in Michigan (US Census Bureau).
- Coordinates: it sits at 42.4806, -83.0274 in the US Census Bureau Gazetteer.
- Nearest larger cities: Warren, MI (1 mi); Hazel Park, MI (4 mi); Eastpointe, MI (4 mi); Madison Heights, MI (4 mi); Roseville, MI (5 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Pleasant Ridge, MI (6 mi); Huntington Woods, MI (7 mi); Village of Grosse Pointe Shores, MI (8 mi) (Census populations).
What a personal loan costs in Center Line
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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.
Michigan lending rules that apply in Center Line
The table carries the Michigan rate and licensing rules that apply to consumer loans made in Center Line.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Michigan Department of Insurance and Financial Services (DIFS) Source says: ""Department" means the department of insurance and financial services" | Michigan Legislature as of 2026-09-16 |
| Regulated lender interest/finance charge cap | 25% per annum (Credit Reform Act, MCL 445.1854(1)) Source says: "may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum" | Michigan Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum maximum by written agreement; 5% legal rate (MCL 438.31) Source says: "it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding 7% per annum" | Michigan Legislature as of 2026-09-16 |
| Payday lending status | Legal and licensed — deferred presentment service transactions (2005 PA 244; MCL 487.2121 et seq.), licensed and regulated by DIFS Source says: "AN ACT to regulate the business of providing deferred presentment service transactions; to require the licensing of providers of deferred presentment service transactions" | Michigan Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | License required from the commissioner to make regulated loans (Regulatory Loan Act, MCL 493.1 et seq.) Source says: "a person shall not engage in the business of making loans of money ... without first obtaining a license from the commissioner" | Michigan Legislature as of 2026-09-16 |
How to compare offers in Center Line
The order below is a sensible way to approach a loan in Center Line:
- 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 Michigan using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.