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The Best Loans in Texas 2022: Compare Loan Rates

Written by:  Joe Chappius
|
Last updated: May 6, 2024

Financer.com helps you compare online loan rates in Texas. Compare different loan options in Texas and read more about the payday loan laws in the state.

  • Compare lenders online
  • Find a loan in Texas
  • Compare loan rates and apply

How to Compare Loans in Texas

How to Compare Loans in Texas
1
Choose your loan amount
Choose the amount of money you want to borrow
2
Compare loan rates
Filter the results based on your needs and compare loan rates
3
Choose the best offer
Choose the best offer from leading lenders
4
Complete the application
Click Get Started and complete your application online

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Online Loans in Texas

We've seen a decline in the number of unsecured loans that banks provide in the past few years. While it may be challenging to get a personal loan from a bank, you could still get financing by taking a payday loan.

The way payday loans are governed varies from state to state, and the laws in Texas are quite different from the laws set in the other states.

Compare online loans in Texas with our loan comparison tool above, or read more about online payday loan laws in Texas below.

The Advantages of Online Texas Loans

Online Personal Loans Are Convenient
Online Personal Loans Are Convenient
Get Funds As Soon As The Same Day
Get Funds As Soon As The Same Day
Apply Anywhere, Anytime
Apply Anywhere, Anytime
Less Paperwork Required
Less Paperwork Required

Texas Payday Loan Regulations

Legal Status Legal
Interest Rate (APR) Can exceed 400%
Max. Loan Amount Not specified
Min. Loan Term 7 days
Max. Loan Term 180 days
Number of Rollovers No restriction
Cooling-off Period None
Installment Yes
Finance Charges $10 + $4/mo for each $100
Updated March 21 2022

All consumers need to be fully educated on the risks that come with quick cash advances before taking out a Texas payday loan. The lender has an obligation to explain to you the total cost, the interest rate, and the possibility of the interest accumulating over time.

However, Texas has very relaxed loan regulations and this allows the industry to flourish. There is no limit to how much you can borrow and no limit on financing fees (APRs can go into triple-digits). 

Consumers taking fast payday loans in Texas must repay them in full on the next pay date. Otherwise, these Texas loans might be subjected to fines and penalties, incurring further interest charges.

In Texas, a lender cannot charge you in a criminal court if you default on the loan payment.

However, a lender has the right to charge you in a civil court which means that judgment could be pursued against you, perhaps forcing you into bankruptcy.

Find Loans in Texas Now

Get the Loan You Need

An online personal loan can help when you need cash for large purchases or unplanned expenses.
Holiday
Holiday
Wedding
Wedding
Home Renovations
Home Renovations
Bills
Bills
Shopping
Shopping
Education
Education

Payday Loan Requirements

When you apply for Texas payday loans online, approval can be granted in as little as one hour, with some companies offering instant approval on smaller loans.

When applying for a Texas cash advance, you'll need the following:

  • An active checking account. This is usually for the purpose of wiring money directly to your account once approved.
  • Proof of income. This includes current information about your employer, plus any disability benefits.
  • A working phone number. This can be either a home or mobile phone.
  • Be at least 18 years old and a U.S. citizen or a permanent resident.
  • You cannot be an active member of the military.

Why Compare Personal Loans at Financer.com

Completely Free Comparison
Completely Free Comparison
Instant Results Without a Credit Check
Instant Results Without a Credit Check
Read Genuine Customer Reviews
Read Genuine Customer Reviews
Find the Cheapest Payday Loans in Texas
Find the Cheapest Payday Loans in Texas
Compare Now

Compare Online Loans in Texas

Compare lenders and loan rates and apply for a Texas loan online. With Financer.com you can: 

 

  • Compare lenders that offer loans of $1,000 or more
  • Prequalify with no impact on your credit score
  • Compare rates and choose the best loan offer

Start Comparing

How much would you like to borrow?

What Customers Say About Us

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4.60 based on 325 reviews

from Reviews.io

Compare Texas Loans at Financer.com

Financer.com helps you compare the best personal loans in Texas and get the best loan rates from leading lenders.

We look for lenders that offer full transparency and have a long track record of successful lending and satisfied customers. We are always improving our comparisons, but are confident in what we can bring to market, and we know you will be as well.

Use our free loan comparison tool to find the right personal loan in Texas and take the guesswork out of doing all the legwork yourself.

Texas Loans FAQs

How much can I borrow?
In Texas, there are no loan limits, and the amount you can be approved for depends on your credit score, your loan payment history, and your debt-to-income ratio, among others. By comparing lenders you can choose the best loan rates and terms.
How long is a loan term in Texas?
There are two types of Texas payday loans: single and multiple installment loans. Single installment loans are due within two weeks to one month, whereas multiple installment loans are due within six months (180 days).
What are the requirements for a lender to operate in the State of Texas?
To operate as a lender in Texas, both as a storefront or online loan provider, lenders have to be licensed and must disclose all loan information (fees, interest, terms, repayment periods) before a loan agreement is signed. Furthermore, 45 cities in Texas have passed an additional ordinance with stricter requirements for payday lenders:
  • Payday loan lenders must have a license in the city
  • Lenders must keep a record of all transactions
  • Loan amounts can't exceed 20% of a borrower's gross monthly income
  • No more than three rollovers and four installments are allowed
  • Repayment of at least 25% of the original loan amount
  • Breaking of the rules leads to a $500 fine
Cities that passed ordinance: Amarillo, Arlington, Austin, Baytown, Beaumont, Brownsville, Bryan, College Station, Corpus Christi, Dallas, Duncanville, Edinburg, El Paso, Fort Hood, Fort Worth, Garland, Greenville, Harlingen, Houston, Irving, Killeen, Laredo, Little Elm, Lubbock, McAllen, Mesquite, Mission, New Braunfels, Plano, Port Arthur, Richardson, Round Rock, Sachse, San Antonio, San Marcos, Sugar Land, Temple, Waco, Weatherford, and others.

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