Best Personal Loans in Houston, TX
Residents in Texas pay about $4,500 in yearly health insurance costs. Combined with soaring credit card and student loan debt, Houston residents struggle with heavy financial burdens, and many turn to personal loans when faced with unexpected expenses. We reviewed the best personal loan companies in Houston to help find the right one for you.
Top 10 Houston Personal Loan Companies | ||||
|---|---|---|---|---|
| Best Egg | Read 1,443 Reviews | Offers personal loans up to $35,000. Easy online application. Get money in your account in as little as one day upon approval and verification. Recommended minimum debt of $5,000 for debt consolidation. |  | Visit Website Toll free number (855) 662-6876 |
| NetCredit | Read 924 Reviews | Offers personal loans up to $10,000. Can deliver funds same business day, Guarantees a 100% commitment to customer satisfaction. Provides eligibility verification by state. |  | Visit Website |
| Next Day Personal Loan | Read 25 Reviews | Lending network for personal loans up to $40,000. Apply in under two minutes to start their simple, three-step process: apply, qualify, get funded. Funds available as soon as the next business day. |  | Visit Website Toll free number (833) 985-2116 |
| LoanMe | Read 519 Reviews | Offers personal loans up to $100,000. Processes approvals in as few as four hours. No prepayment penalties. Minimum loan amount of $600 required. |  | Toll free number (855) 464-0433 |
| OppLoans | Read 187 Reviews | A company focused on prompt, affordable and secure personal loans while providing quick service, lowered interest, and expert customer care. |  | Visit Website |
| Capital Bank | Read Expert Review | Provides secured and unsecured loans with discounted interest rates for automatic transfers. FDIC member. Offers online banking, mobile banking and e-statements. 24-hour loan approval available. |  | |
| Courtesy Credit | Read Expert Review | Specializes in unsecured and signature loans. Provides cash, personal, online and 24-hour approval loans. Gives 12-month repayment terms. Spanish-speaking representatives available. Rewards clients for referrals. |  | |
| Energy Capital Credit Union | Read Expert Review | Provides installment loans and shared secured loans. Lends amounts of $5,000 to $20,000. Provides repayment terms lasting up to 60 months. Advertises a lowest APR of 7.45%. |  | |
| First Service Credit Union | Read Expert Review | Lends $1,000 to $30,000 without collateral. Advertises APRs of 6.99% to 16.99%. Offers online applications. NCUA insured. Operates more than 5,000 credit union branches and 30,000 free ATMs around the U.S. |  | |
| Houston Federal Credit Union | Read Expert Review | Offers signature loans, unsecured loans and secured loans from $2,500 to $50,000. Interest rates start at 5.89% for First Responder Signature Loans. NCUA insured. Mobile banking and online payment available. |  |
Texans carry some of the most debt in the country. Credit card debt, mortgage debt, auto loans and student loan debt are burdens to many residents. For Houstonians, personal loans are a way to handle unexpected expenses and emergencies.
Finding a personal loan in Houston, TX
Should you get a secured loan or signature loan? A variable-interest loan or personal line of credit? The options for personal loans in Houston can be confusing, and each circumstance requires a slightly different approach.
- Variable-rate loans: Houstonians with older vehicles or large amounts of auto debt appreciate a variable-rate loan. Why? Because when a vehicle breaks down, a variable-rate loan funds repair costs and allows borrowers to pay their loans back in a short time. A variable-rate loan's interest rate and monthly payments change with the market, making it a good option for small purchases and expenses.
- Co-signed loans: Are you a first-year student heading to Rice University? A co-signed loan can help with financing a college education. Many undergraduate and first-time students have no credit history, which is why a co-signed loan is a great option. With a co-signed loan, students get the support of a parent, guardian or family member to borrow money and start to build credit.
- Secured loans: Young professionals looking to remodel a home in Fourth Ward, Museum Park or Downtown Houston might want to explore a secured loan. With secured loans, personal property such as a vehicle, certificate of deposit (CD) or another asset serves as collateral. Stocks or investments, for example, can be used to secure a loan and make a new life in one of the city’s up-and-coming neighborhoods.
State regulation for Houston loans
Texas requires that personal loan companies be licensed with the Texas Office of Consumer Credit Commissioner if their interest rates are higher than 10%. This requirement protects borrowers in Houston looking to finance their purchases or cover unexpected emergencies with an unsecured loan, personal line of credit or a fixed-rate loan. The Nationwide Multistate Licensing System & Registry provides more information for consumers on how these finance loan companies are licensed and operated.
Choosing a loan company in Houston, TX
Choosing a loan company in Houston requires attention to detail. Several loan offices in the Magnolia City provide reviews directly on their website. Consulting family members and friends can also help point borrowers in the right direction when looking for a personal loan. So can researching what past clients have said — the Consumer Financial Protection Bureau lets borrowers see what complaints previous customers have made.
When choosing the best loan, compare loan terms, interest rates and ask about any potential penalties or fees. One thing to look for is a pre-payment penalty, which is a fee companies charge if the loan is paid early.
Houston personal loan FAQ
- What is a good interest rate on a personal loan?
- A good interest rate on a Houston person loan starts at 4.99% with no collateral or pre-payment penalties.
- What’s the best online loan company?
- The best online loan company for Houston residents depends on individual circumstances. Check out our list of the city’s top 13 loan companies to start your search.
- Can I get a loan with a Houston credit union?
- Yes, borrowers can get Texas credit union personal loans. Many Houston credit unions offer personal loans up to $10,000 or more with interest rates starting at 5.89%.
- What credit score do you need for a personal loan in Houston?
- Bad credit personal loans are available through several Houston companies. Before applying for a loan, it’s best to consult a financial professional to discuss how credit inquiries are performed.
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Houston personal loan company information
The Houston Federal Credit Union is insured by the National Credit Union Administration (NCUA). The credit union offers unsecured loans, secured loans, signature loans and first responder signature loans. Secured loans through the Houston Federal Credit Union use a savings account or certificate of deposit (CD) to pay money to borrowers. It also offers signature loans with terms of up to 60 months starting at 8.89% APR. The credit union offers credit life and credit disability insurance as well as involuntary unemployment protection and family leave protection.
- Address: 3701 Kirby Drive, Ste. 120, Houston, TX 77098
- Phone: (281) 243-0650
- Hours: M - F: 8:30am - 4:30pm
- Website: houstonfcu.org
Through Energy Capital Credit Union, members and expats can get personal loans of $5,000 to $20,000. Insured by the National Credit Union Administration (NCUA), this Houston credit union has been state-chartered since 1934. Personal loans through Energy Capital Credit Union have no annual fees or penalties for early payment.
- Address: 18540 Northwest Freeway, Houston, TX 77065
- Phone: (832) 604-4848
- Hours: M - F: 9am - 5pm; Sat: 9am - 12pm
- Website: eccu.net
First Service Credit Union is a not-for-profit financial institution that partners with charitable organizations like the You First Foundation. First Service doesn’t charge pre-payment penalties on loans. The credit union offers loans from $1,000 to $30,000 without collateral and with interest rates of 6.99% to 16.99%. Applications are accepted online, and payments can be made either through First Service Credit Union’s online banking portal or its mobile app.
- Address: 16430 Park Ten Plaza, Houston, TX 77084
- Phone: (713) 676-7777
- Hours: M - F: 8am - 5pm
- Website: fscu.com
Courtesy Credit offers loans to individuals with good or bad credit. The company's loans are best for individuals looking to finance small expenses or purchases up to $1,340. Borrowers have 12 months to pay back their loans and can have money wired to them or deposited into their bank account the next day. Courtesy Credit offers unsecured and signature loans without collateral, and many borrowers are approved within 24 hours.
- Address: 7006 Woodridge Drive, Houston, TX 77087
- Phone: (713) 228-0281
- Hours: M - F: 8:30am - 5pm; Sat: 9am - 1pm
- Website: courtesycredit.net
Through Capital Bank, most borrowers can get approved within one business day. The bank's secured and unsecured loans are insured by the FDIC. Borrowers who set up recurring payments can get a discount rate on their interest. Capital Bank doesn’t penalize those who pay their loans early.
- Address: 10304 East Freeway, Houston, TX 77029
- Phone: (713) 675-2341
- Hours: M - Th: 9am - 4pm; F: 9am - 6pm; Sat: 9am - 12pm
- Website: capitalbanktx.com
Sandi Pope previously worked in the nonprofit sector as an advocate for environmental and social change and believes information access is a human right. As a member of the ConsumerAffairs Research Team, she seeks to provide consumers with the necessary information needed in making life-altering decisions.
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