Best Personal Loans in Houston, TX

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Updated: September 18, 2024

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Texas Bay Credit Union is the best personal loan lender in Houston, Texas, with a MoneyGeek score of 99 out of 100, because it offers quality service, competitive interest rates and flexible repayment terms. Laurel Road stands is the best lender for online personal loans, with a MoneyGeek score of 93 out of 100, due to its strong customer service, a quick application and approval process, and credibility and transparency about its loan terms and process.

We prioritized local lenders and scored them based on factors like interest rates, loan terms, loan application process and speed of loan funding to gather our best city recommendations. If you're looking for national lenders, we compiled our top picks in the best personal loans in Texas.

MoneyGeek analyzed hundreds of lenders based on a rubric that includes APR ranges, loan amounts and repayment terms, among other key areas. We use a point-based system, assigning scores according to the presence or absence of certain desirable features in various critical categories.

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Our overall analysis was completed in August 2024. Here we considered banks and credit unions with brick-and-mortar locations in Houston, Texas. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Houston, TX

Company logo for Texas Bay Credit Union
Texas Bay Credit Union
MoneyGeek Score99
APR Range8.74% to 18%
Loan Amount RangeUp to $50,000
Repayment Terms6 to 72 months
Time to Receive FundsUndisclosed
Overview

Texas Bay Credit Union stands out as the best personal loan lender in Houston, Texas, with a MoneyGeek score of 99 out of 100. It provides federally insured loans by the NCUA and offers APR rates starting as low as 8.74%, making it attractive for borrowers seeking lower interest rates.

Best Online Personal Loan in Houston, TX

Company logo for Laurel Road
Laurel Road
MoneyGeek Score93
APR Range9.49% to 24.50%
Loan Amount Range$5,000 to $45,000
Repayment Terms36 to 60 months
Time to Receive FundsWithin 7 Days
Overview

Laurel Road is the best online lender for personal loans in Houston, Texas, with a MoneyGeek score of 93 out of 100. It offers personal loans ranging from $5,000 to $45,000 with repayment terms of 36 to 60 months.

Calculate Your Monthly Payment in Houston, TX

The United States Census Bureau reported that the median annual household income in Houston, Texas in 2022 was $60,426. Regardless of whether your actual income is above or below the median value, your ability to afford the monthly loan payments is what matters. Use our personal loan calculator to estimate your monthly loan payments and the total cost of the loan by entering the loan amount, rate and terms.

For example, if you take out a $10,000 personal loan with a 10% interest rate and three years in repayment terms, your monthly payment would be $323, which adds up to $3,876 per year. This amount reflects approximately 6% of the median annual household income in Houston.

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Updated: Sep 18, 2024

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Runner-Up for Best Personal Loan in Houston, TX

Company logo for Members Choice Credit Union
Members Choice Credit Union
MoneyGeek Score94
APR RangeFrom 8.99%
Loan Amount RangeUndisclosed
Repayment TermsUp to 72 months
Time to Receive FundsUndisclosed
Overview

Members Choice Credit Union is the runner-up for the best personal loans in Houston, Texas, with a MoneyGeek score of 94 out of 100. As a lender, it is federally insured by the NCUA, which provides an added layer of security for borrowers.

Other Options for Personal Loans in Houston, TX

Company logo for First Service Credit Union
First Service Credit Union
MoneyGeek Score91
APR RangeFrom 11.99%
Loan Amount Range$1,000 to $40,000
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

First Service Credit Union stands out as a suitable choice for personal loans in Houston, Texas, receiving a MoneyGeek score of 91 out of 100. As a lender, it offers the security of being federally insured by the NCUA and doesn't impose prepayment penalties, allowing you to pay off your loan early without extra costs.

Company logo for Houston Federal Credit Union
Houston Federal Credit Union
MoneyGeek Score91
APR RangeFrom 12.50%
Loan Amount RangeUp to $50,000
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

Houston Federal Credit Union is another good choice for personal loans in Houston, Texas, with a MoneyGeek score of 91 out of 100. Borrowers can appreciate that this lender is federally insured by the NCUA, providing a sense of security.

National Lenders With Physical Locations in Houston, TX

If you're in Houston, Texas, and seeking the best personal loans with a preference for in-person service, your selection includes multiple national lenders. Borrowers have the choice of lenders such as Truist, Wells Fargo, PNC and OneMain Financial, each providing a variety of loan options and personal customer service to meet individual financial needs.

OneMain FinancialAPR Range18.00% to 35.99%Loan Amount Range$1,500 to $20,000Repayment Terms24 to 60 months
PNCAPR RangeUndisclosedLoan Amount Range$1,000 to $35,000Repayment Terms6 to 60 months
TruistAPR Range8.74% to 17.39%Loan Amount RangeStarting from $3,500Repayment Terms24 to 60 months
Wells FargoAPR Range7.49% to 23.24%Loan Amount Range$3,000 to $100,000Repayment Terms12 to 84 months

What to Do if You Can't Get a Personal Loan in Houston, TX

Your loan application in Houston, Texas can get denied due to various reasons, like a low credit score, negative financial history, or an unfavorable debt-to-income ratio. If this happens, there are some steps you can take to navigate this setback.

1
Find out the reason for the denial

Some lenders may deny your loan application due to a poor credit score, high debt-to-income ratio, low income level or errors in your application. Reviewing the reasons for denial helps you improve weak areas and prevents future loan application denials.

2
Modify your loan terms

You can try asking your lender if you can adjust the loan amount or repayment terms to get approved.

3
Look for another lender

Different lenders have varying eligibility criteria for personal loan approval. Shopping around and considering factors such as minimum credit score requirements, interest rates, loan terms, additional fees and customer service helps you find the best lender for your particular needs and circumstances.

4
Explore credit counseling services

Lenders often look at your debt-to-income ratio when evaluating your loan application. You may consider a credit counseling agency to better manage your credit card debt and develop your budget. You can get credit counseling services from the City of Houston's Financial Empowerment Center. Another option is the Department of Justice's list of approved credit counseling agencies.

FAQ About Personal Loans in Houston, TX

We addressed frequently asked questions about the best personal loans in Houston, Texas, offering valuable insight to assist you in making informed decisions.

What is the best overall personal loan lender in Houston, Texas?

Texas Bay Credit Union is the top personal loan lender in Houston, Texas, with APRs ranging from 8.74% to 18%, loan amounts up to $50,000 and repayment terms from 6 to 72 months.

What are personal loans used for in Houston, Texas?

In Houston, you can use personal loans for a variety of needs such as home improvements, emergency circumstances or vacation and travel. However, some lenders may restrict funds from being used for college tuition or illegal activity.

What are the interest rates on personal loans in Houston, Texas?

Personal loans in Houston, Texas feature APRs that range from 9.04% to 18%, based on the lenders in our database; always compare personal loan rates to find terms that work for you.

What are the benefits and drawbacks of personal loans?

Personal loans offer lower interest rates compared to credit cards for qualified borrowers, allow for debt consolidation and provide quick access to funds. While advantageous, personal loans also come with potential risks like origination fees and the risk of asset loss in secured loans.

What are some personal loan red flags to look out for?

When considering personal loans, be cautious of red flags such as extremely high APRs, a lack of transparency about loan origination and the absence of clear information on the credit impact of the application process.

How to apply for a personal loan online?

Many lenders now provide online applications for personal loans, making it fast and straightforward to apply on their websites.

Can I get a personal loan with bad credit in Houston, Texas?

Getting a personal loan with bad credit is possible but challenging. Check out our best loans for bad credit and best loans for bad credit in Texas for possible options.

What are the best low-interest personal loans in Houston, Texas?

We've compiled some of the best low-interest personal loans to help you easily compare options.

What is an installment loan? Is there a difference between personal loans and installment loans in Houston, Texas?

In Houston, personal loans are a type of installment loan, which refers to loans with a set payment schedule.

Is there a difference between credit union loans and bank loans in Houston, Texas?

Credit union loans and bank loans in Houston may differ in interest rates and application requirements. When seeking to apply for a loan, investigate the terms associated with your bank account or checking account.

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.

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