Hancock at a glance
- Population: 1,557, the 84th-largest community in Maryland out of 157 (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,555 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 0.1% higher than at the 2020 Census (US Census Bureau).
- Rank among Maryland places: 84th in population of 157 places (US Census Bureau).
- Size percentile: it is larger than about 46% of the places in Maryland (US Census Bureau).
- Coordinates: 39.7046 / -78.1633, per the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Martinsburg, WV (20 mi); Williamsport, MD (20 mi); Everett, PA (23 mi); Hagerstown, MD (24 mi); Greencastle, PA (24 mi) (US Census Bureau populations).
- Nearest smaller places: Bath (Berkeley Springs), WV (6 mi); Clear Spring, MD (13 mi); Hedgesville, WV (14 mi) (US Census Bureau estimates).
What a personal loan costs in Hancock
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Maryland lending rules that apply in Hancock
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 |
|---|---|---|
| OFR consumer-loan interest-rate limits | 2.75%/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 status | Regulated 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 licensing | Consumer 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 regulator | Office 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 Hancock
Run through this list before signing anything in Hancock:
- 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 Maryland using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.