University Place at a glance
- Population: about 35,049, 36th by size in Washington of 281 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 34,872 (US Census Bureau).
- 2020 to 2023 change: population rose about 0.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Washington places: 36th out of 281 Census places (US Census Bureau).
- Size percentile: larger than about 87% of the Census places in Washington (US Census Bureau).
- Coordinates: mapped at 47.2154, -122.5473 by the US Census Bureau Gazetteer.
- Nearest larger cities: Lakewood, WA (4 mi); Tacoma, WA (5 mi); Federal Way, WA (12 mi); Puyallup, WA (12 mi); Lacey, WA (17 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Fircrest, WA (2 mi); Steilacoom, WA (4 mi); Ruston, WA (6 mi) — US Census Bureau populations.
What a personal loan costs in University Place
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Washington lending rules that apply in University Place
The table carries the Washington rate and licensing rules that apply to consumer loans made in University Place.
| 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 University Place
The order below is a sensible way to approach a loan in University Place:
- 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.