Luke at a glance
- Population: 82, the 153rd-largest community in Maryland out of 157 (US Census Bureau, Vintage 2023).
- 2020 Census base: 84 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 2.4% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Maryland places: 153rd largest of 157 (US Census Bureau).
- Size percentile: it exceeds roughly 3% of Maryland's Census places by population (US Census Bureau).
- Coordinates: it sits at 39.4788, -79.0589 in the US Census Bureau Gazetteer.
- Nearest larger cities: Piedmont, WV (1 mi); Westernport, MD (1 mi); Barton, MD (4 mi); Keyser, WV (5 mi); Lonaconing, MD (7 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Callimont, PA (23 mi); Bruceton Mills, WV (33 mi); Ohiopyle, PA (35 mi) (US Census Bureau).
What a personal loan costs in Luke
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Maryland lending rules that apply in Luke
The Maryland rate caps and licensing rules that reach Luke are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Luke
These steps are the ones that most affect the offer you receive in Luke:
- 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.