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Payday Loans in Houston, Texas
We let you compare the rates (APR, additional fees and other financial charges) from online direct lenders and in-store companies near you in Houston. You can also fill out a free application form and get approval within some minutes. If you meet all the simple requirements (being over 18, resident of the US, with a valid bank account and e-mail) you have all the chances of getting the Payday Loan in Houston, TX the next or even the same day.
Apply for Payday Loans in Texas from the Best Direct Lenders Online or find a Loan Store nearest to your location.
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Houston, TX Cash Advance and other Money Offers:
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Find the best loan offers in Houston, TX choosing among a variety of legit online and in-store lending companies.
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It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.
The minimal percentage allowed that actually represents monthly cost of your loan. The MPR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.
Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.
It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000 for Payday Loans, $1000 - $5000 for Installment loans, and up to $15,000 for Personal loans. But it may vary depending on the lender and his requirements.
The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.
Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.
It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000 for Payday Loans, $1000 - $5000 for Installment loans, and up to $15,000 for Personal loans. But it may vary depending on the lender and his requirements.
The percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.
Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.
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Are Payday Loans Legal in Houston, TX?
Loan Rates and Fees, Laws and Regulations in Texas.
The maximum Payday loan amount is not stated in Texas, as a rule, direct lenders offer up to $1,000. Its term is up to 6 months (180 days). Installment loans vary from $1000 to $5000, Personal – from $5000 to 35,000. A cash advance is legal in the state according to 5 Tex. Fin. Code §§ 393 et seq.1, 4 Tex. Fin. Code §§ 342.004.2 The APR is 410% on average. There is no cap on rates and fees in Texas. Lenders usually take 10% of the loan. There are also $30 non-sufficient funds fees and a 5% collection fee.
| Law status | legal |
| MIN Loan Amount | Not specified |
| MAX Loan Amount | Not specified |
| MIN. Loan Term | Not stated |
| MAX. Loan Term | 180 days |
| MAX APR | 410% |
| Additional fees | 10% of the loan |
| NSF fee | $30 |
| Collateral or guarantor | None, unsecured |
| Number of simultaneous loans | Not stated |
| Cooling off period | None |
| Rollover | Not stated |
| Extension, repayment plan | Not stated |
| Default penalties | 5% collection fee |
| Credit score requirements | Available for Bad Credit |
Quick and Easy Payday Loans Online
Compare top online companies offering fast cash advance with no faxing, no paperwork, possibly no hard credit check and no teletrack. Filling out a free application form guarantees you instant decision and high approval chances even if you have a bad credit score.
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It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.
The minimal percentage allowed that actually represents the cost of your loan borrowed for a month. It's more significant criterion than APR as mostly Payday loans are borrowed for 14-30 days until the next paycheck.
Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.
It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000 for Payday Loans, $1000 - $5000 for Installment loans, and up to $35,000 for Personal loans. But it may vary depending on the lender and his requirements.
The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.
Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.
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Before you apply for a short-term cash advance in Houston, TX consider other Payday Loan Alternatives
A warning about short-term payday loans
Applying for a short-term Payday Loan you should be very careful and responsible. Plan your budget carefully not to default the loan. Though an overpay may be only $1 a day for 100 dollar cash advance you must remember that not paying off the money on time may lead to additional penalty or NSF fees and high total cost.
So, before you make a final decision to apply for a Payday Loan consider other alternatives that may be helpful when you need urgent funds:
- Think of other more affordable types of loans with lower rates and fees and longer repayment terms such as Installment Loans and Personal Loans,;
- Consider Debt Consolidation Loans, Credit Builder Loans, Credit Cards;
- Try social services and local assistance programs;
- Look for additional part-time jobs or some side gigs and freelance opportunities;
- Start recycling for money;
- Address a person able to help you – employer, creditors, family and friends;
- Use traditional banks or credit unions to get cash.
And keep in mind that the most important thing about any loan, especially Payday Loan is to pay it off on time. It helps you avoid rollovers, renewals or extensions and increases your chances to get out of debt fats and easy.
Payday Loans Available in Houston, TX by the following ZIP codes:
Payday Loans Store Locations in Houston, TX
Payday Loans under certain economic conditions in Texas
Not everybody might know that the nickname of Texas is The Lone Star State. Its population counts up to 28 704 330 people. Not all of them are aware that their state is famous for : "The most wind energy and being the live music capital of the world". But 7 500 441 TX residents definitely know about the popularity of easy, convenient and legal Payday Loans as they borrow them at least once a year. Texas produces 8.64% of the US GDP (Gross Domestic Product), which is $1 599 283 mln and puts the state on the 2th place among all the others. A median household income here constitutes $55 653, or $27 125 per capita to compare with the price parity of 86.8 out of 100. These figures prove once again how hard it may be sometimes to make both ends meet with an average weekly wages of $522. Not surprisingly, the poverty rate reaches 17.20%, or 4 519 thousand people, i.e. the 38th position all over the country. No wonder 57% state’s residents are in need of a quick and easy money, which can be applied for in-store or online in the type of Payday, Installment or Personal loan.
REQUIREMENTS TO QUALIFY FOR A PAYDAY LOAN IN Houston, TX
What do I need to qualify for a short-term cash advance in Houston, TX?
Independent lenders have their own individual requirements that must be met, but typical minimum requirements include, but may not be limited to:
- Texas (US) residence
- Minimum regular income of $1,000 per month
- Valid checking or savings account with direct deposit
- Phone number and e-mail address (if applying online, you must be able to be contacted via phone if verification of application information is necessary)
- Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
- If applying Online, you must provide a valid Social Security Number
- If applying at Loan Store, you must bring a valid government issued photo ID. A Social Security Number might not be required
- If applying in-store, you must bring proof of income and proof of a bank checking account. Debit cards or pre-printed checks may be accepted in your state as proof of bank checking account; contact your local store for details. Acceptable documents may vary by state.
Cash Advance Online in Houston, TX
Any time you are in need of urgent financing in Houston, TX, you can apply for a short-term Payday Loan up to $1000 or cash advance online. Pay for current bills or other emergency expenses. Cash advances and payday loans are the same in terms of quick same day money deposit. But before choosing the way to get the money take into account the differences between the two.
- A cash advance is taken out through your credit card.
- A payday loan can be got online or in-store. It's a short-term credit with simple application requirements and fast turnaround time within 1 - 2 working days.
Read more: Cash Advance Online.
Payday Loans Online
All you need to know about Payday Loans.
Payday loans, or as they are also called “small dollar”, “bad credit”, “same day”, “short term”, “cash advance” in Houston, TX are a kind of easy quick unsecured $100 - $1000 cash advance paid off with your next paycheck in 14 – 30 days. So, the main characteristics of Payday Loans are:
- $100 - $1000 average loan amount;
- 14-30 days repayment term;
- money in your account in 24 hours or even the same day;
- available even for bad credit;
- More than 12 mln Americans use cash advance every year.
- It’s legal in 36 states (with some restrictions in 9 of them) and prohibited in the other 14 and the District of Columbia.
You can take a Payday loan in Houston storefronts, online and even in a few banks. It’s very simple to apply for it:
- just fill out a form with the state and e-mail address,
- if you are over 18, have a permanent job, income and a valid bank account, you have 98% chance to get instant approval from a direct lender;
- receive the money in your bank account less than 24 hours.
Payday loans are very attractive for the majority of borrowers because you don’t need any guarantor or collateral, and you can get it even with a bad or poor FICO score.
On the other hand, Houston, TX Payday Loans are notorious for charging too high APR and leading to a continuous debt trap, but it’s a common myth. To debunk it we provide you with the cost of $100 Payday Loan at 400% APR for 14 days which is only $1 a day. You can calculate the cost of your loan free using our Payday Loan Calculator. Try Payday cash advance and make sure that it’s really as easy as ABC: Affordable, Beneficial, Convenient!
How do Payday Loans Work in Houston, TX comparing to Installment Loans and Personal Loans?
Payday Loans vs Installment Loans vs Personal loans in Houston, TX.
There’s a lot of misunderstanding among Houston borrowers what is Payday, Installment and Personal loans are. Many people mistake them for one another, or think it’s all the same. To understand the difference better, let’s define each of them at first.
Payday loans in Houston, TX are small dollar ($100 - $1,000) short term (14-30 days, in some cases up to 3 month) cash advance which is characterized by its easiness, speed, availability, even for those with bad credit, or without a credit history.
Payday lending is legal not in every state. To find out more information in your place of residence read our research “Payday Loans Rules, Laws and Regulations by state”.
Installment loans in Houston, TX are $1,000 - $5,000 credit borrowed for 6 – 36 months and paid back in equal repayments, usually unsecure and available for those with bad credit score.
Personal loans in Houston, TX are $5,000 - $35,000 credit granted for personal use, usually unsecured, backed up only by your ability to pay it back, for 6 – 60 months and repaid in equal installments.
The process of getting a Payday Loan is quick and easy both online and in-store:
- Fill out a simple application form stating the amount you need, your name and e-mail address;
- Get instant decision and approval from one of the best direct lenders;
- Read the agreement and if you are satisfied with its terms and conditions sign it;
- Get the necessary funds in your account within 1-2 days if you apply online or same day if you go in a store.
Houston Payday Loans vs Installment Loans vs Personal loans.
The key differences between Payday, Installment and Personal loans lie in their amount, repayment terms and rates. It can be seen more vividly in the form of the table:
|
|
Payday loans |
Installment loans |
Personal loans |
|
Amount |
$100 - $1,000 |
$1,000 - $5,000 |
$5,000$ - 35,000 |
|
Term |
14 - 60 days |
60 days - 36 months |
Up to 60 months |
|
Repayment |
With the next paycheck |
In scheduled installments every fortnight, month, 2 months. |
Monthly, or in parts as it’s set in the agreement. |
|
Interest rates, APR |
APR – 300%-750%, plus 10-15% of 100$ borrowed |
5.99% to 35.89% APR plus 5% fee |
6-36% APR plus 1-6% origination fee |
|
Collateral or guarantor |
No |
No |
No |
The APR is the loan interest rate and is based upon the amount, cost and term of the loan, repayment amounts and timing of payments. Houston, TX lenders are legally required to show the APR and other terms of your loan before customer executes a loan agreement. APR rates are subject to change.
Taking into account the enumerated peculiarities this or that cash advance is preferred by certain borrowers for their special needs.
Payday cash advances are mostly applied for by people with bad credit, with a low income, who need a little cash for a short period. While Installment and Personal loans better suit the borrowers with good or bad credit, who want to take out higher amounts of money and need more time to pay it back, and don’t want to do a lot of paperwork looking for a collateral or guarantor.
Benefits of different types of loans:
- Easy, quick way to get extra cash
- Short repayment term, possibility to pay it back with the next paycheck
- Suitable and convenient for emergency expenses
- Higher amount than a payday loan
- Smaller interest rates
- Easier to pay off in installments over a longer period of time
- Rather high amount of money
- Available without guarantor or collateral (in contrast to mortgages, auto loans, etc.)
- Easier to pay back having a precise scheduled plan.
As we can deduce, there are credit types, with their advantages and disadvantages, to suit needs and wishes of any American. The only thing you must do – get information and compare the offers. That’s exactly what our service helps you with. COMPACOM – compare all and choose the best one!
Payday Loans for bad credit in Houston, TX
Bad credit loan is the type of credit given to borrowers with a FICO score below 640. You usually need at least 600 to qualify for such a loan. To get money in Houston, TX you may turn to credit unions, family, friends, peer-to-peer lending platforms or use online lending service. When choosing an online lender for a bad credit loan, there are important features to take into account:
- Type of lending company
- Credit history and general qualifications
- Co-signer option
- Additional eligibility criteria
- Employment requirements
- Interest rates and fees
- Loan terms
- Additional fees and penalties
- Repayment options
Types of loans available for bad credit applicants on Houston, TX are Bad Credit Payday Loans, Personal Loans and Installment Loans. They typically have higher interest rates and shorter terms than loans offered to people with good credit. Thus you are most likely to get up to $1000 Payday cash advance. Though its APR may exceed 400% it shouldn’t frighten you as due to short (14 - 30 days) term the overpay could be only $1 a day.
You’ll get up to $1000 cash deposited into your account within 24 hours. Just fill out a simple application form online and get instant approval if you meet the lenders’ basic requirements which typically are:
- Minimum FICO score of at least 600;
- Clean credit history; no judgements, liens and bankruptcies on your credit report; and a history of making on-time payments;
- Stable employment;
- Proof of identification with a passport, driver’s license or voter’s ID. You’ll also need to provide proof of residence such as a utility bill.
Installment and personal loans are also available for Houston, TX borrowers with a bad credit.
Read more: Bad Credit Installment Loans
Read more: Bad Credit Personal Loans
Keep in mind that your score can influence the amount you want to take and the interest rate the lender will offer you. The maximum sum for an installment cash advance is $5000, and for a personal loan - $35000. In any case you need no collateral, no guarantor, no paperwork. No matter whether your credit score is 400, 550, or 600, get the chance to learn more about all the opportunities you have and compare the best lending services you are offered on COMPACOM.com.
No Credit Check Payday Loans in Houston, TX
Any Houston, TX borrower, especially the one with bad credit, wants to avoid Credit Check. A no credit check loan is a type of loan in which a lender evaluates your creditworthiness without using a credit report, i.e. without doing an inquiry to any of the three major credit bureaus: Equifax, Experian and TransUnion. No formal review of your credit report allows to avoid affecting the credit history and score.
There do exist direct lenders in Houston, TX ready to provide you with a Payday Loan without doing a hard inquiry. They compensate their risk by higher APR or other fees. If you fill out our compacom form online we’ll send it to more than 300 direct lenders and help you find the one with NO credit check option.
But usually credit check is necessary and useful both for the company and for the borrower. Thus the lender can decide whether to approve you or not and you can ensure that you are able to repay the loan.
Guaranteed Payday Loans from direct lenders in Houston, TX
Many Houston, TX lenders promise you a guaranteed instant approval for a Payday Loan. But be careful, take into account all the risks concerning short-term cash advance. You should understand that not all the borrowers can be approved. Though Payday Loans are really highly available, even for bad credit and with NO credit check sometimes, lenders can’t guarantee 100% approval. If you have no job, very low income, or many debts in the past, your chances to get the money are very low.
The truth is you do get an instant decision from a lender. Especially if you fill out our online application form you save plenty of time and energy and make lending procedure much faster and easier. It takes only several minutes to match you with the necessary lender and get his reply. That’s why Payday Loans are rightly considered the fastest and the easiest.
Same Day Payday Loans in Houston, TX
Payday loans in Houston, TX are known to be short-term small-dollar cash advance, starting minimum with $100 and up to $1,000. Applying is easy and quick especially if you do it online. The funds can be deposited into your bank account the next business day if you use online service. If you borrow in a store near you it’s possible to put the cash into your pocket the same day you apply.
Payday Loans from Direct Lenders in Houston, TX
Any Houston, Texas direct lender is any financial institution that can offer you any type of loan directly managing all the lending process themselves without middlemen. Borrowing from a direct lender has its own advantages and disadvantages:
- Pros
-
- Faster loan processing and approval;
- It’s easier to solve any issues that might come up;
- Your personal information won’t be shared or passed to third parties.
- Cons
-
- If you need to compare several companies you have to go to each site and fill out an application which takes a lot of time and may turn out not very effective;
- Applying with a broker or matching service gives you more flexibility and freedom to choose the most suitable loan;
- With a direct lender it’s harder to get approval for a loan if you have bad credit while a matching service will be able to find you the necessary funds even with the credit score below 600.
When you apply for a Payday Loan from a Houston direct lender you:
- Go to the lender’s website and read all the information on the necessary loan;
- Check the eligibility criteria;
- If you suit the criteria and are satisfied with the terms and fees you fill out an application form;
- You wait until the lender approves you;
- If you are approved, you get the money deposited into your account within 24 hours.
It’s an ideal scenario of borrowing money which happens quite rarely. Usually you need to spend hours surfing the net and choosing a suitable offer. We can make this process quicker and simpler.
We provide you with a network of direct lenders in Houston with detailed description of each of them. You just fill out our free compacom form and get immediately matched with the best lenders. It doesn’t make your loan more expensive. Just on the contrary, you can find the cheapest rates and fees offered by direct lenders. Besides, we ensure that all of our partners are licensed companies who work legally and keep your personal information and financial data secure.
Read more: Payday Loans from Direct Lenders.
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Payday Loans in Houston, Texas
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What are Payday Loans?
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