Mountain Lake Park at a glance
- Population: 2,117 (US Census Bureau, Vintage 2023 subcounty estimate), the 70th-largest of 157 places in Maryland.
- 2020 Census base: 2,145 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a loss of about 1.3% since the 2020 count (US Census Bureau).
- Rank among Maryland places: 70th of 157 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 55% of places in Maryland are smaller (US Census Bureau).
- Coordinates: 39.4000 latitude, -79.3811 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Kingwood, WV (17 mi); Keyser, WV (21 mi); Frostburg, MD (30 mi); Petersburg, WV (31 mi); Moorefield, WV (32 mi), each a US Census place with its estimated population.
- Smaller places close by: Loch Lynn Heights, MD (1 mi); Oakland, MD (2 mi); Deer Park, MD (3 mi) (US Census Bureau).
What a personal loan costs in Mountain Lake Park
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Maryland lending rules that apply in Mountain Lake Park
The table lists the Maryland rules that apply to a loan made in Mountain Lake Park, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mountain Lake Park
Here is a short checklist for comparing personal loans in Mountain Lake Park:
- 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.