Mayfield Heights at a glance
- Population: a Census-estimated 19,793, placing it 87th among Ohio's 924 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 20,347 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down roughly 2.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Ohio places: the 87th-largest of 924 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 91% of the places in Ohio (US Census Bureau).
- Coordinates: latitude 41.5173, longitude -81.4539 (US Census Bureau Gazetteer).
- Nearest larger cities: South Euclid, OH (4 mi); Cleveland Heights, OH (6 mi); Shaker Heights, OH (6 mi); Euclid, OH (6 mi); Willoughby, OH (9 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Lyndhurst, OH (2 mi); Mayfield, OH (2 mi); Gates Mills, OH (2 mi) (Census populations).
What a personal loan costs in Mayfield Heights
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Ohio lending rules that apply in Mayfield Heights
The table lists the Ohio rules that apply to a loan made in Mayfield Heights, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer finance licenses required for non-depository lenders, including Consumer Installment Loan Act lenders, General Loan Law lenders, short-term lenders, and small loan lenders. Source says: "We issue and manage licenses for companies and individuals under multiple Ohio statutes." (page's regulated-statutes list names Consumer Installment Loan Act lenders, General Loan Law lenders, Short-term lenders, Small loan lenders). | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| State lending regulator | Ohio Department of Commerce, Division of Financial Institutions (Consumer Finance Section). Source says: "The Consumer Finance Section is responsible for regulating non-depository consumer lenders and related consumer finance businesses." | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 8% per annum maximum by written agreement for the general case; higher rates permitted only in specified cases (e.g., principal over $100,000, business loans, certain mortgages). Source says: "may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually" (Ohio Rev. Code 1343.01(A)). [codes.ohio.gov content retrieved via search-engine fetch of the official section; direct connections blocked from our network] | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
| Payday lending status | Legal for licensed short-term lenders; interest capped at 28% per annum; total fees and charges capped at 60% of the originally contracted loan amount. Source says: "(A) Interest not exceeding a rate of twenty-eight per cent per annum" (Ohio Rev. Code 1321.40); total fees/charges capped at "a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount" (1321.403). | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
How to compare offers in Mayfield Heights
Before you share your details with a lender in Mayfield Heights:
- 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 Ohio using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.