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Best Personal Loans in Houston, TX

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Written by Sandi Pope

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.

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Top 12 Houston Personal Loan Companies

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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 reports 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.

Not sure how to choose?

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    Houston personal loan company information

    Houston Federal Credit Union

    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
    Energy Capital Credit Union

    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

    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

    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
    Capital Bank

    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