Palos Hills at a glance
- Population: about 17,759 residents, ranking 142nd of 1,294 Census places in Illinois (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 18,527 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down about 4.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 142nd-largest of 1,294 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: larger than about 89% of the Census places in Illinois (US Census Bureau).
- Coordinates: latitude 41.7007, longitude -87.8253 (US Census Bureau Gazetteer).
- Nearest larger cities: Oak Lawn, IL (4 mi); Burbank, IL (4 mi); Alsip, IL (5 mi); Evergreen Park, IL (7 mi); Orland Park, IL (7 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Hickory Hills, IL (2 mi); Worth, IL (2 mi); Chicago Ridge, IL (2 mi) (US Census Bureau).
What a personal loan costs in Palos Hills
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Illinois lending rules that apply in Palos Hills
Read the table as the compliance picture for a lender serving Palos Hills: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions Source says: "DFI licenses, charters, and examines a wide variety of financial products and services including: Consumer and Sales Finance and Collection Agencies". | Illinois Department of Financial and Professional Regulation as of 2026-09-16 |
| Installment lender net-worth requirement | $30,000 minimum positive net worth (plus $25,000 surety bond) Source says: "every applicant shall prove ... that the applicant has and will maintain a positive net worth of a minimum of $30,000". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 9% annual percentage rate (general written-contract interest cap) Source says: "it shall be lawful for the parties to stipulate or agree that an annual percentage rate of 9%, or any less sum". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Payday lending status | Permitted under license; capped at 36% annual percentage rate (payday loans) Source says: "shall not contract for or receive a charge exceeding a 36% annual percentage rate ... for a payday loan". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Installment Loan Act license required from the Director of Financial Institutions (loans above 9% APR) Source says: "No person ... shall engage in the business of making loans of money ... except ... after first obtaining a license from the Director of Financial Institutions". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
How to compare offers in Palos Hills
Here is a short checklist for comparing personal loans in Palos Hills:
- 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 Illinois using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.