You can use a personal loan for just about any expense. Borrowers who use personal loans often prefer them over other options because they offer higher borrowing amounts and have lower interest rates than other loan products, such as credit cards.
When choosing a financial institution, you might prefer to work with a local or regional bank over a national online lender. It can be easier to speak with a loan officer about what you need, and you may be able to customize your loan terms to better suit your budget and financial goals.
Keep reading for a deep dive into the best national online lenders and regional lenders offering personal loans in Texas.
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How to find the best personal loans in Texas
Texas law only requires lenders to be licensed in the state if they issue interest rates greater than 10%. Other than that, Texas personal loans don’t differ from personal loans in other states.
You can use Texas personal loans for just about anything. Many borrowers use them to pay off debt, and others use them for emergency expenses or home renovations. As long as you’re not using the money for an illegal activity, you can spend it as you see fit.
We researched personal loans by state to compare national and local banks in Texas. Here’s a quick breakdown.
Best online personal loans in Texas
Texas’s vast and diverse population makes it a desirable state for online lenders to establish eligibility. An influx of digital lending platforms has led a wider range of Texans to access financial support.
The companies we’ve selected below have carved out niches in this competitive landscape. They provide Texans many benefits, ranging from a comprehensive rate comparison marketplace to specialized lending solutions tailored to various credit profiles.
Credible
Why Credible is the best marketplace
Credible’s platform is ideal for Texans looking for a hassle-free experience comparing personal loans. With one quick application, you can see prequalified rates from multiple lenders.
It’s an appealing option for those with little information on their credit profile because it allows you to find out whether you’re eligible with lenders catering to a wide range of credit profiles, and it won’t hurt your credit score.
- Compare loans from multiple curated lenders
- Get prequalified loan offers in as little as 2 minutes
- Get funded within a few business days
- No option to apply for joint loans
| Rates (APR) | 6.99% – 35.99% |
| Loan amounts | $1,000 – $200,000 |
| Repayment terms | 1 – 10 years |
Eligibility requirements
- Soft credit check? Yes
- Minimum credit score: Varies
- Minimum income: Not disclosed
- States: Loan partners may not be available in all states
Repayment terms
Credible loans have repayment terms ranging from one to 10 years. Some lenders may charge a prepayment penalty if you pay your loan off early.
Upgrade
Why Upgrade is the best personal loan for fair credit
Upgrade offers a solution for Texas residents with less-than-excellent credit. A soft credit inquiry for initial rate checking means you can prequalify with no impact on your credit score. Upgrade’s transparent approach lays out all terms and fees upfront, so you won’t have any surprises down the road.
The lender also offers the flexibility to choose your loan terms, tailoring your loan to your financial situation. With loans up to $50,000, you might find the right loan for debt consolidation, home repairs, or other personal needs.
- Choose your monthly payment and loan term
- Joint applications accepted
- Loan funds may be available in as little as 1 day
- Smaller loan maximum limit
- 1.85% to 9.99% origination fee
| Rates (APR) | 8.49% – 35.99% |
| Loan amounts | $1,000 – $50,000 |
| Repayment terms | 2 – 7 years |
Eligibility requirements
- Soft credit check? Yes
- Minimum credit score: 580
- Minimum income: Not disclosed
- States: All 50 states and Washington, D.C.
Repayment terms
Upgrade loans have repayment terms from two to seven years, and your monthly due date is adjustable to fit your budget. A short-term financial hardship program is available if you’re temporarily unable to manage payments.
SoFi
Why SoFi is the best personal loan for good credit
SoFi is synonymous with premium lending services, and Texans with good credit can leverage this to obtain loans with no fees required.
SoFi’s quick prequalification process, which provides rate quotes in just a few seconds, allows you to assess your options right away. And with loan amounts up to $100,000, SoFi is suited for a variety of financial objectives, from consolidating high-interest debt to funding large purchases.
- No origination fees, late payment fees, or prepayment penalties
- Check rates in as little as 60 seconds
- Some borrowers may qualify for same-day funding
- Higher minimum loan amount
- Autopay discount is lower than what some lenders offer
| Fixed rates (APR) | 8.99% – 29.99% with all discounts |
| Loan amounts | $5,000 – $100,000 |
| Repayment terms | 2 – 7 years |
Eligibility requirements
- Soft credit check? Yes
- Minimum credit score: 660
- Minimum income: Not disclosed
- States: All 50 states and Washington, D.C.
Repayment terms
SoFi personal loans feature terms from two to seven years. If you enroll in autopay, you’ll get a 0.25% rate discount. There’s no penalty if you decide to pay your loan off early.
Happy Money
Why Happy Money is the best personal loan for credit card debt
Happy Money caters to Texans looking to take control of their credit card debt. The lender specializes in providing loans designed to consolidate and pay off high-interest credit card balances. This focus ensures borrowers have access to products that are tailored to their debt-reduction goals.
In addition to its targeted loans, Happy Money offers a suite of support services, including access to Member Advocates, who can guide borrowers through their debt-free journey.
- Send payments directly to creditors
- Choose your loan repayment term and due date
- Free monthly credit score monitoring
- Origination fee from 1.5% to 5.5%
- Not available for uses other than credit card debt
| Rates (APR) | 12.45% – 17.99% |
| Loan amounts | $5,000 – $40,000 |
| Repayment terms | 2 – 5 years |
Eligibility requirements
- Soft credit check? Yes
- Minimum credit score: 640
- Minimum income: Not disclosed
- States: Loans not offered in Nevada or Massachusetts
Repayment terms
Happy Money lets you choose personal loan terms ranging from two to five years, so you can get a payment that reflects your budget. There are no prepayment penalties, and you won’t be charged a fee if your payment is late. Happy Money doesn’t offer rate discounts at this time.
LightStream
Why LightStream is the best personal loan for excellent credit
LightStream offers personal loans tailored to your needs, whether for home improvement, debt consolidation, or a wedding. The repayment terms differ depending on the use of funds, but what’s consistent is its ability to offer some of the lowest rates available.
Its Rate Beat Program is a unique feature that promises to offer a rate 0.10 percentage points lower than the rate a competing lender’s offered rate under specific conditions.
- Rate match guarantee ensures that you get the best rate possible
- Same-day funding may be available
- Take advantage of a longer repayment term if you need lower payments
- No option to prequalify or check rates with a soft credit pull
- Minimum loan amount is $5,000
| Rates (APR) | 7.49% – 25.49% |
| Loan amounts | $5,000 – $100,000 |
| Repayment terms | 2 – 12 years |
Eligibility requirements
- Soft credit check? No
- Minimum credit score: 660
- Minimum income: Not disclosed
- States: All 50 states and Washington, D.C.
Repayment terms
LightStream offers some of the longest repayment terms of any lender, giving you up to 12 years to repay your loan. You can pay your loan off early, without a prepayment penalty and rate discounts can help bring the cost of your loan down.
Local Texas personal loans
The following lenders are only available in Texas. Borrowers sometimes prefer local lenders over national lenders because they often offer more loan customization, and you can communicate with them directly about questions or concerns you may have.
The downside is that taking out a personal loan from a local bank may take longer, and it may also take more time to compare rates.
All the lenders below offer unsecured personal loans, but a few also offer secured options, which may help you get a lower rate.
| Lender | Availability | Rates (APR) |
| B&F Texas Finance | Odessa, Midland, and West Texas | Not disclosed |
| Greater Texas Credit Union | Local Texas lender | Start at 12.99% |
| Credit Union of Texas | Local Texas lender | Not disclosed |
| Frost Bank | San Antonio | Start at 10.00% |
How to choose the best Texas personal loan
To choose the best Texas personal loan, compare rates and fees between multiple lenders (here’s a list of our favorites). Your first objective is to find the lender offering the best deal. For many borrowers, this is the most significant variable, but don’t stop there.
Check out the lenders’ reviews online. Are you confident you’ll get good customer service if you have an issue? For example, if a borrower couldn’t make a payment, did the lender work with them?
Better Business Bureau and Trustpilot are excellent places to get an idea of a bank’s customer service. With any financial institution, we can expect occasional complaints. But has the company taken time to communicate with borrowers who had a negative experience? This can be a sign that the company works hard on a daily basis to provide top-notch customer service.
Best alternatives to personal loans in Texas
Other financial options may be available. Have you considered a personal line of credit, a home equity loan, or an low-introductory-APR credit card?
A personal line of credit is like a credit card in that any amount you borrow and repay becomes available once again. Plus, you have the option to make minimum payments if needed. As with personal loans, you may be able to access higher borrowing limits and lower APRs if you secure the loan with collateral.
Home equity loans allow borrowers to secure their loan with the equity they’ve built in their home. Home equity loans often have much lower APRs than other loan products because you secure the loan with a high-value asset.
You can use credit cards with a 0% introductory rate for balance transfers and new purchases. The length of the intro rate period depends on the card, but many cards offer lengthy introductory periods. Depending on how much you borrow, you may consider a combination of financial products to save money.
Recap of the best online loans in Texas
About our contributors
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Written by Lauren WardLauren Ward is a personal finance writer who regularly covers topics like mortgages, real estate, tax relief, home equity, business loans, and investing.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.