Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Waco, Texas, personal loans, installment loans, and cash advances are strictly regulated by the Texas Office of Consumer Credit Commissioner (OCCC) and local municipal ordinances. We are not a direct lender, but a matching service that connects you with independent, third-party lenders. Rates, fees, and repayment terms are determined entirely by the lender based on your credit profile, the loan amount, and state laws. Under Waco's unified credit ordinance, if you utilize a Credit Access Business (CAB) for a short-term cash advance, the loan amount cannot legally exceed 20% of your gross monthly income. Furthermore, short-term installment loans in the city are limited to a maximum of four payments, with each payment required to reduce the principal loan amount by at least 25%. This ordinance is designed to help borrowers pay down their balance efficiently. Traditional personal loans and larger installment loans may have different structures, with APRs generally ranging from 5.99% to 35.99%. Always review the specific rates, fees, and repayment schedules in your lender's contract before signing.
Annual Percentage Rate (APR)
5.99% - 35.99% (Traditional Personal Loans)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $1,000 | 12 Months | 24.0% | $134.72 | $1,134.72 |
| $2,000 | 24 Months | 19.9% | $438.48 | $2,438.48 |
| $5,000 | 36 Months | 15.5% | $1,278.44 | $6,278.44 |
Representative example only. We are not a lender and do not make credit decisions. Actual rates, fees, and terms vary by lender, your financial history, and Texas state regulations. CAB fees for short-term advances may equate to higher APRs. Late fees or non-payment penalties may apply as outlined in your lender's agreement.
State-Specific Information — Texas
Maximum Loan Amount: Under Waco municipal ordinance, short-term advances are strictly limited to 20% of the borrower's gross monthly income.
Rate Cap: Texas regulates loan fees and structures under the OCCC. While CAB loan fees are not strictly capped by an APR limit, local Waco ordinances mandate strict repayment structures and limit loan sizes based on borrower income.
Regulations: Texas Finance Code and local Waco ordinances govern personal lending. Lenders must verify income and limit refinances to protect consumers from debt cycles.
Licensing: Lenders and Credit Access Businesses operating in Texas must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).