Woodway at a glance
- Population: about 1,304, 191st by size in Washington of 281 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 1,313 residents here (US Census Bureau).
- 2020 to 2023 change: about 0.7% below the 2020 Census base (US Census Bureau).
- Rank among Washington places: 191st largest of 281 (US Census Bureau).
- Size percentile: about 32% of places in Washington are smaller (US Census Bureau).
- Coordinates: 47.7879, -122.3880 (US Census Bureau Gazetteer).
- Nearest larger cities: Edmonds, WA (2 mi); Shoreline, WA (3 mi); Mountlake Terrace, WA (4 mi); Lake Forest Park, WA (5 mi); Lynnwood, WA (5 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Hunts Point, WA (12 mi); Yarrow Point, WA (13 mi); Beaux Arts Village, WA (16 mi) (US Census Bureau).
What a personal loan costs in Woodway
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.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
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 Woodway
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Woodway
The steps below are worth completing first when you borrow in Woodway:
- 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.