Loans from
$300 – $5,000

Repayment term
4 – 24 Months

Minimum credit score
No min. to apply

The figures provided are representative of a typical installment loan made or arranged by CreditNinja and are not guaranteed rates or terms that you may qualify for.

By CreditNinja
Modified on April 8, 2024

Most of us have had a time when we could use some extra funding. Residents of Houston, Texas, who need this help can look into several different loan options. Your lending options will generally depend on your credit score, income, and ability to repay the loan. Below you will find more information on some of Houston’s most popular lending options.

When beginning your search for lending, you will likely come across personal loans in Houston, Texas. Personal loans are some of the most common lending options available, and chances are you have already seen these loan options before. 

Typically, these loans are unsecured, meaning they don’t require collateral. Sometimes unsecured loans may be referred to as signature loans because the only guarantee a lender has is the applicant’s signature. With a personal loan, the borrower gets the entire loan amount at once and can use it as they see fit—although these loans are best used for unexpected expenses or financial emergencies. Repayment is usually done with equal monthly payments and begins about 30 days after the loan funds are dispersed.

Personal loans may be right for you if you want a versatile loan. These loans are some of the most flexible; they come in various loan amounts, interest rates, and with the right lenders, may be available even with bad credit. 

Applying for a personal loan is simple too; here is what the process will look like for residents of Houston, Texas: 

  1. Find a lender you want to work with.
  2. Apply for pre-approval.
  3. Review the personal loan terms. 
  4. Move forward with final approval. 
  5. Review final loan terms and sign the contract for the personal loan.
  6. Get the funds (in most cases, the funds can be sent to a bank account, picked up at a location, or mailed to you as a check). 

Installment Loans

Many loans can fall under the umbrella of installment loans, and personal loans are one of them. Installment loans are funding options that will need to be repaid in steady monthly payments. To provide this payment schedule, lenders may have fixed interest rates on their loans, which means that the interest stays the same throughout repayment. While the opposite—variable interest—can change during repayment. One of the main benefits of installment loans is that they can easily be factored into a budget. 

Personal loans are just one kind of installment loan option out there. There are several other loans that fall into this category; here are some examples: 

  • Student loans (ones that have fixed interest rates)
  • Home equity loans 
  • Mortgages 
  • Auto loans 

No Credit Check Loans

No credit check loans don’t have a credit check as a part of their application process, which can add ease to that process. However, because of the risk that a lender is taking, a no credit check loan usually comes with high interest rates. 

Along with that, these loans usually provide a short time to repay the funds, sometimes as short as a few weeks. So, these may not be not the most flexible loan options when it comes to repayment. 

Another thing to keep in mind with these loans is that loan amounts are usually fairly small because of the risk for lenders. Especially when compared to some loans that do check credit history as a part of their loan process. 

Cash Advance Loans

Houston residents searching for funding may also come across cash advance loans. A cash advance loan offers borrowers the ability to get a small amount of money, usually as cash. One thing to look out for with these loans is that their interest rates may be high, and some options can lead to a cycle of debt. Here are some examples of these loans:

  • Payday Loans/Payday Advances — Payday loans, also called payday advances, are extremely short-term loan options (usually repaid in two weeks) that provide a small amount of cash for borrowers. Interest rates can be high, and the short repayment cycle (usually a Single-payment loan) can make it easy to miss the payment due date. 
  • Credit Card Cash Advances — Credit card cash advances may be available to borrowers who already have a credit card they can use. To withdraw cash from a credit card, you will need to have availability with your credit limit. Usually, with credit card cash advances, the easiest way to withdraw cash is through an ATM. In most scenarios, expect a few hundred dollars at most. One thing to keep in mind is that interest rates on credit card cash advances are usually higher than standard credit transactions on the same card, and interest will start accruing immediately. Credit card debt can be easy to accumulate, so be careful with credit card advances, especially if you use that card for credit transactions as well.  
  • Cash Advance From an Employer — This option may not be available for everyone, but those who do have this option can look into it for extra funds. With a cash advance from your employer, you essentially ask for your paycheck earlier. And so, on your next regular pay cycle, you won’t get paid. One thing that is nice about this is that there usually isn’t any interest involved. However, missing an entire paycheck may significantly affect your budget and financial situation. 

Online Bad Credit Loans

Houston residents who don’t have the best credit history may find themselves considering bad credit loan options. These loans work pretty close to what they sound like; the applicant’s credit history isn’t looked at for loan approval. Instead, the loan application will focus on the borrower’s income and ability to pay the loan, so having good credit to borrow money isn’t a requirement. For a lender, these loans are pretty risky, and so the interest rates may be high. Therefore, you may want to steer clear of bad credit loans and look at standard personal loans instead. For a personal loan, adding a cosigner or co-borrower can be a good approach for approval and the best rates. 

Payday Loans Alternative in Houston, TX

As mentioned above, payday loans are extremely short-term bad credit loan options that make a small amount of cash available. The loan term for a payday loan, coupled with interest, can make it difficult to repay the loan when it is due. Since there are so many other loans in Houston, TX, and several lenders, you have plenty of alternative options, even if you don’t have the best credit. Along with personal loans, here are some other options you can look into: 

Loan Options for Business Owners:

Business Loans: If you are a small business owner, a business loan can help pay for any business-related expense. These loans are usually repaid in steady monthly payments until the loan is paid back in full. Although there are private lenders for these loans, there are federally backed loans available too. 

Merchant Cash Advances: Merchant cash advances are a type of loan that offers business funding based on past credit card and debit card sales. The funds are repaid on a daily or weekly basis, depending on cash flow. There are definitely pros and cons to these, just like any other loan, so do some research before applying. 

Options for Homeowners:

Home Equity Line of Credit (HELCO): With a home equity line, homeowners can borrow against the value of their home in the form of a credit line. Many people use these for home improvements since costs can be volatile.  

Home Equity Loans: Home equity loans have a similar process to HELOC. The major difference is that with home equity loans, borrowers will get a fixed amount up front vs. a credit line with HELOCs. 

Loans for Specific Purchases:

Mortgages: Mortgages are used for financing the purchase of a home. Although some people use personal loans or other types of funding for things like closing costs, a mortgage may be the best and most practical option for financing a home/real estate purchase.  

Auto Loans: Auto loans are specifically designed to help borrowers who want to purchase a vehicle. 

Qualities of the Best Personal Loans in Houston, Texas

If you do decide to go with a personal loan for funding in Houston, there are a few qualities you should look out for to find the most competitive loan. Here are some things that the best personal loans will have in common: 

  • Minimal late fees.
  • Competitive interest rates.
  • A lender that cares for customers. 
  • No hidden fees.
  • No prepayment penalties for paying off the loan early.
  • The ability to apply for a loan online.
  • A monthly payment that fits your budget.
  • Getting funds quickly once approved.

Frequently Asked Questions

Generally, we offer unsecured loans up to $5,000. However, the amount you’re offered if approved will vary based on your specific qualifications, as well as the regulations in Texas, or whichever state you live in.

The length of your repayment term will depend on the specific loan you receive, as well as the state where you live. This may range from six to 18 months.

CreditNinja personal loans in Houston are designed for borrowers with less-than-perfect credit. While we do consider an applicant’s credit history, it’s not the only factor we review. This means that having a low credit score doesn’t necessarily bar you from being approved!

It’s important to remember that any loan or financial obligation can affect your credit score. The best way to improve your credit is to always make your payments on time, and try to decrease the amount of debt you have.

CreditNinja personal loans are designed for borrowers with less-than-perfect credit. While we do consider an applicant’s credit history, it’s not the only factor we review. This means that having a low credit score doesn’t necessarily bar you from being approved!

CreditNinja offers quick and reliable personal loans for borrowers in need. The entire process is online, from the application to funding, and even repayment. Apply today for a CreditNinja personal loan in Houston, get a decision right away, and get the cash you need to get your life back on track.

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