Finding A Good Loan Offer In Texas Try Shopping Multiple Lenders
- January 16, 2015
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Looking for a personal loan in Texas? Sick of finding nothing but payday lenders when searching in Google? Sadly the search engines results get flooded by payday lenders when searching for personal loans as your key word. Many people are not even aware that options exist for small personal loans outside of predatory payday lenders. The qualifications vary from lender to lender but I have complied a list of the top personal loan lenders in the state of Texas for your informational purposes.
Frost Bank offers small personal loans for debt consolidation or personal reasons. They offer traditional loans and lines of credit which can be secured or unsecured. You will need to contact a Frost Banker at 866-376-7889 to discuss your possible loan options. They feature fixed interest rates and you get a 0.25% rate discount if you set up automatic payments from your bank account. There are no fees with Frost Bank personal loans. If they require a secured loan it can be secured by a Frost CD or Savings account, stocks, bonds, brokerage, annuities, or trust accounts. www.frostbank.com
Alcanefcu.org is a good option if your credit score is 680 or higher. Loans start at $4000 and loan amounts go as high as $35,000. You APR will range from 12.34% to 29.99%. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. Pros of this company is one fixed monthly payment, American based customer service. Loan approvals are very fast here with same day approvals provided you have a fully completed application with all required supporting documentation. Another great feature is that you can Choose your own payment date.
TexasDirectLenders.com is another great option for a personal loan in Texas. Their motto is that you are more than a credit score, and they let you check your rate for free. Your APR can be as low as 5% with this company depending on your credit, debt to income ratio and credit utilization. Rates do go as high as 30% but the only people who see a 30% rate have a lot of debt, poor credit and other factors. It is recommended that you have a 600+ FICO score however. Whats unique is you can have friends and family vouch for you which will lower your APR, the more people who will vouch for you the lower your APR will be. Whoever vouches for you agrees to pay back a “pledge” it can be as low as $25 should you stop paying on your loan. The more people who vouch for you the better the they will be able to offer you. This new loan idea helps keep people accountable for what they owe.
Sun Loans offers loans to people with credit scores as low as 680, but expect to pay a hefty interest fee if your score is that low, but it will be better than a payday loan. The good news is that checking your rates through Sun Loans will not impact your credit score. You can receive your funds in as little as 24 hours pending approval of your loan. Loan amounts up to $20,000 can be obtained.
As always before you borrow money from any lender do a through check on who you are doing business with. Before taking out a personal loan review all your options and see if you could get the funds elsewhere such as from equity in your home. Do by all means shop around do not take the first loan offer you receive as you may find a better rate with a little looking around.