Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Long repayment terms
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Houston is one of a handful of Texas cities that has its own regulations on payday loans — in addition to state law. But with few restrictions on fees, don’t be surprised if it gets expensive.
You can. However, Houston is one of a number of Texas cities that has additional regulations on top of Texas state law. Here’s what you can expect in Houston:
On top of this, you also can’t refinance ore renew a loan more than three times. After that, you can’t take out another loan within seven days of paying off your loan.
In addition to payday loans, you can also get an installment loan or a title loan.
Though it varies by lender, you have to meet these eligibility criteria to get a payday loan in Houston:
To complete the application successfully you’ll also typically have to provide some basic personal information, including:
Since Houston doesn’t have any restrictions on payday loan fees, they can be extremely expensive — think APRs from 200% to 500%. And with the option to renew your loan up to three times, these costs can start to add up fast if you can’t pay it back on time.
There are two costs you need to consider when getting a cash advance in Houston: Interest and fees. Texas state law caps interest rates at 10% but doesn’t limit how much a lender can charge in fees. Houston doesn’t have any city laws limiting interest or fees.
Without limits on fees, the limit on interest doesn’t do much to protect borrowers from high APRs, which takes both interest and fees into account. How much you pay depends on your lender but triple-digit APRs are generally the norm.
While you can get started on your loan application today — you’ll still need to wait for funding.
This connection service is transparent about rates — but asks for lots of personal information before you know where it’s going.
Just because you can get a loan without proof of income doesn’t mean you should.
If you’re not a fan of fraud, learn what states to avoid living in, including the top 10 metropolitan areas with the highest and lowest levels of identity theft.
Learn what you need to do before you apply and how to fill out the application form.
Where to find relief if the COVID-19 outbreak hurts your income.
Where to find free or low-interest funding to keep you afloat during the COVID-19 outbreak.
Here’s how to prepare for the USDA loan preapproval process.
Keep in mind you’ll likely need a cosigner to qualify.
Explore your two main options to share the responsibility and potentially get a better deal.
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