New Carrollton at a glance
- Population: roughly 13,405 people; 20th of 157 places in Maryland (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 13,716 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 2.3% below the 2020 Census base (US Census Bureau).
- Rank among Maryland places: 20th by size among 157 communities (US Census Bureau).
- Size percentile: about 87% of places in Maryland are smaller (US Census Bureau).
- Coordinates: 38.9656 latitude, -76.8775 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Greenbelt, MD (2 mi); College Park, MD (4 mi); Hyattsville, MD (4 mi); Takoma Park, MD (7 mi); Bowie, MD (7 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Landover Hills, MD (2 mi); Riverdale Park, MD (3 mi); Berwyn Heights, MD (3 mi) (US Census Bureau estimates).
What a personal loan costs in New Carrollton
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 New Carrollton
The Maryland rate caps and licensing rules that reach New Carrollton are listed below, each with its source and retrieval date.
| 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 New Carrollton
Run through this list before signing anything in New Carrollton:
- 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.