Payday Loans in Houston, Texas
Things happen, and we often wind up in a situation where we have to pay for some surprise expenses. Think about submitting an application for a paycheck advance loan in Houston, Texas, to see if you meet the requirements.
The loan application process is swift and painless. To qualify, loan borrowers must satisfy a few simple criteria.
What is a Payday Loan? What Can It Be Used For?
A cash advance loan is where the borrower will receive a small amount of money on a short-term contract. This is thought of as an unsecured loan because no collateral is expected.
When unforeseen expenses come up, such as late rent or utility expenditures, vehicle fees, health or vet payments, and so forth, individuals often turn to cash advance loans.
Cash Advance Loan Criteria In Houston, TX
In Houston, Texas, cash advance loan borrowers are required to meet a few stipulations to be eligible for a loan.
The borrower is required to:
- Prove that they reside in Houston, TX
- Must be at least 18
- Receive an income that they can prove that's at least $1,000/month
- Give active contact details including phone number and email address
- Give their SSN
If a borrower does not satisfy the above requirements, they will automatically be denied a cash advance loan. Ensure that you possess the documents needed when requesting a loan.
Laws and Rules Regarding Cash Advance Loans in Houston, TX
The State of Texas has ruled cash advance lending legal. However, they have enacted the following rules and laws for the paycheck advance lending market:
- A single lender can't extend a loan in excess of $600. Borrowers are not allowed to have greater than two active loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not determined, the longest loan term length is 31 days. In the State of Texas, borrowers cannot rollover their loans.
- The fees and charges are different for each lender. The service fees charged by the lender on each loan or transaction are not considered interest. The service fees apply to every $100 loaned and can vary between 11-15%.
- An interest rate is required to be mutually agreed upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Houston, TX, Run Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will do a credit check on you, still, even if you possess no credit or dismal credit, you may still be eligible for a loan provided you can show that you are able to repay the loan. Lenders are generally unbothered by your credit history if you have proof of income and a strategy to repay the loan.
Lenders will conduct a soft credit pull, which will have no impact on your credit score. This is only to get a feel of your credit history and general information.
A hard credit inquiry, alternatively, needs your permission. These credit checks are performed for various purposes, such as mortgages, credit card applications, and more.
You may still be approved for a paycheck advance loan with bad credit in Houston, TX, as long as you can prove you will repay the loan.
Therefore, when you apply for a loan, albeit in person or online, ensure that you have your income information ready and any other documents showing that you can pay back the loan. The more evidence you possess, the more likely you are to be approved.
When Will I See My Funds in Houston, TX?
When you see your cash really relies on your lender as some lenders advertise same-day cash advance loans, which means you will receive your payday loan on the same day you submit your application, as long as you get an approval.
Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. So, if you apply on a Friday, you might not see your loan until Monday.
If you're needing a same-day payday advance loan in Houston, TX, you will need to ensure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that time. However, you should request a loan earlier than that if possible, as it will boost the likelihood that you receive your loan on the same day that you submit your application.
One more factor that you should understand is despite if the money lender grants your loan request and posts the funds to your bank, sometimes the bank won't release that loan at that time. It's important to let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the money earlier.
Overall, it's best to prepare ahead of time to receive your loan on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Borrowing From PaydayLoanRadar
If you possess bad credit or no credit and are searching to secure a payday loan, consider applying with us, as you probably have a higher chance of approval.
We work with over one hundred different lenders who offer their services online. Most of the time you will see your money on the following business day so ensure that you plan correctly.
Although, you can always locate the nearest cash advance loan store to you and apply in person to boost the chances of seeing your funds on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Infrequently, lenders may request proof of address, so bring a utility bill to the store too.
To find the nearest cash advance loan storefront, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Houston, TX
Below you will find a list of payday loan companies offering their services in Houston, Texas. If you can't find a lender near your location in Houston, consider applying in a nearby city in Texas. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Houston, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.