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Best Personal Loans in Houston, TX

The average personal loan debt in Texas is $15,505. MoneyGeek's resources noted that Texas' average credit score is 688, the third-lowest in the nation, with an average personal loan interest rate of 8.78%. If you live in Houston, Texas, knowing some crucial info about personal loans will help you familiarize yourself with them and find the best personal loan in Houston.

Last Updated: 6/7/2022
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MoneyGeek’s Pick for Best Personal Loan Lender in Houston, TX: Truist

MoneyGeek evaluated a variety of factors that could influence your approval, such as loan sizes, payback terms, interest rates and more. We also looked into the convenience that these lenders may bring you, such as an online application option, a user-friendly application process and a mobile app to assist you in managing your transactions.

Based on MoneyGeek’s research, Truist is the top overall personal loan lender in Houston. That said, the best option for your needs could vary. For instance, we found SoFi to be the best lender for borrowers with bad credit, while Best Egg is the top option for funding home improvement projects.

Best Overall Personal Loan Lender in Houston: Truist


  • Truist

    • 8.14% to 18.99%APR Range
    • NoneMinimum Credit Score
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime To Recieve Funds

    on Truist Website

Best Personal Loan Lender for Bad Credit in Houston: Upstart


  • Upstart

    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime To Recieve Funds

    on Upstart Website

Best Personal Loan Lender for Good Credit in Houston: SoFi


  • SoFi

    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime To Recieve Funds

    on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Houston: Upgrade


  • Upgrade

    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime To Recieve Funds

    on Upgrade Website

Best Personal Loan Lender for Home Improvement in Houston: Best Egg


  • Best Egg

    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime To Recieve Funds

    on Best Egg Website

How to Choose the Best Personal Loan Lender in Houston For You

Did you know that the average personal loan debt in Texas is $15,505? Before applying for a personal loan in Houston, consider how you'll use it and evaluate interest rates, loan terms, loan amounts and any associated fees.

MoneyGeek compiled a list of the most significant considerations you should make before applying for a personal loan in Houston.

1

Ask Yourself the Important Questions

You should ask yourself the following questions before selecting the most suitable personal loan in Houston:

  1. How much do I need? Evaluate how much money you require and find a lender who will offer this amount.
  2. What is my credit score? Many personal loan providers require applicants to have a good credit score. If you already have a relationship with a bank, you may be eligible for a better rate if you have a strong track record of paying bills on time.
  3. Can I afford the monthly payment? When applying for a personal loan in Houston, think long-term. If you can't make payments, your credit score will suffer and you’ll pile up late fees.
  4. How much debt do I already have? If you have other debts to pay off, adding another loan to your list may not be the best option.
2

Do Your Research

You want to be certain that you select the right lender who can provide you with the best personal loan in Houston. You'll be making a long-term commitment to the loan and the lender, so be sure you're comfortable signing a contract with the lender you choose. That is why conducting your research before making a decision is so crucial.

You will be better prepared for future financial decisions if you go through the study and comparison process today. Your chances of success improve when you take your time and choose a lender who can provide you with exactly what you require.

3

Wait

Always keep in mind that you'll be paying off your personal loan for a few years. Applying for a personal loan demands careful thought. Do nothing unless you're certain you'll be able to handle all of the responsibilities.

After you've acquired all of the facts you'll need, take a moment to contemplate. Don’t make any decisions until you’ve considered the loan for a day or two and are 100% certain you’re making the right choice.

4

Read the Fine Print

Knowing what you're getting yourself into is a repeating element in financial success. Reading the fine print when applying for a personal loan in Houston is one of the best ways to guarantee you completely comprehend the financial product.

Never sign anything you don't understand, particularly financial commitments. Being frugal with your money entails not just acquiring more of it, but also figuring out how to make the most of what you already have.

5

Apply

It’s now time to apply for a personal loan in Houston. During the application process, you'll almost certainly be asked to produce specific documents and information. You can apply for your loan online, but if you prefer, you can also call the lender or visit their office.

When it comes to what you'll need to apply, each lender is different. Following the submission of your application, your lender will request more documentation, usually to prove your identity and income, among other items.

What to Do if You Can’t Get a Personal Loan in Houston

When you apply for a personal loan in Houston, the lender will analyze your credit history before choosing whether or not to approve your application. The lender may reject your application if it believes you are a high-risk borrower who will not be able to repay the loan. There are a variety of reasons why this could occur.

There are a few things you can do to improve your chances of getting a loan in the future, like paying off your other debts and improving your credit score.

If you can't persuade the lender or if you absolutely need the money, you may need to apply for a loan from another organization. Payday loans, on the other hand, should be avoided because they are typically short-term loans with an extremely high interest rate.

Also, keep in mind that applying for many loans in a short time period can negatively affect your credit score and make you a less appealing borrower.

Frequently Asked Questions About Personal Loans in Houston

If you've never applied for a loan before, the procedure can be a bit intimidating. In response, MoneyGeek answers some of the frequently asked questions about personal loans in Houston to assist you in determining which option is best for you.

Our Personal Loan Methodology

We reviewed more than 30 personal loan lenders using 35+ individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking criteria category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible, like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are determined with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’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, credit card issuer, hotel, airline, or other entity.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings for our coverage of credit card products. MoneyGeek and CardRatings may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.