Seattle at a glance
- Population: about 755,078 residents, ranking 1st of 281 Census places in Washington (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 737,018 residents here (US Census Bureau).
- 2020 to 2023 change: population rose about 2.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Washington places: 1st of 281 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 99% of places in Washington are smaller (US Census Bureau).
- Coordinates: 47.6193 latitude, -122.3515 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: no larger city lies within 120 miles.
- Smaller towns nearby: Medina, WA (5 mi); Hunts Point, WA (6 mi); Clyde Hill, WA (6 mi) (US Census Bureau).
What a personal loan costs in Seattle
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the 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.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Washington lending rules that apply in Seattle
The Washington rate caps and licensing rules that reach Seattle are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 12% per annum, or four points above the Federal Reserve bill rate, whichever is higher (RCW 19.52.020) Source says: any rate of interest shall be legal so long as the rate of interest does not exceed the higher of: (a) Twelve percent per annum | Washington State Legislature (RCW) as of 2026-09-16 |
| Payday lending status | Licensed; small loans capped at $700 or 30% of monthly income, max 45 days, fees 15% on first $500 and 10% above (RCW 31.45) Source says: Payday lenders must be licensed by DFI — including online lenders that do business with Washington residents. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Loan Company license required (Consumer Loan Act, RCW 31.04.035) Source says: No person may engage in any activity subject to this chapter without first obtaining and maintaining a license in accordance with this chapter. | Washington State Legislature (RCW) as of 2026-09-16 |
| State lending regulator | Washington State Department of Financial Institutions (DFI) Source says: DFI licenses and regulates financial institutions and service providers in Washington. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
How to compare offers in Seattle
The steps below are worth completing first when you borrow in Seattle:
- 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 Washington using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.