Bad Credit Personal Loans in Houston, TX

There may be some basic things that you may want to know if you are thinking of getting a personal loan in Houston, Texas, with bad credit. The good news is that securing a loan (even with bad credit) has become more accessible in recent years. Read this article to learn about:

• What kind of loans are available in Houston, TX?
• What products or services can loans for bad credit be used for?
• How can I apply for a bad credit loan with Bad Credit?

Read on to understand how bad credit personal loan options* work in Houston, TX.

In Texas, bad credit personal loans are financial solutions offered to potential borrowers on a short-term basis. Bad credit loans are alternative financing options* for those who need immediate access to money but may not have perfect credit scores or little to no credit histories to get loan approval for installment loans through traditional lending institutions.

State laws governing lending practices vary from state to state, and different financing options are available. It’s important to know what loans may be available based on where you live. If you have bad credit, it’s important to compare the advantages and disadvantages of each lending option while also remembering your personal financial needs.

Various lending options are allowed by state and federal law for borrowers who have bad credit. Loans available for residents of Texas include personal loans, auto loans, home loans, and payday loans. While some bad credit loans like home and auto have specific requirements for how funds are used, personal and payday loans tend to have fewer restrictions.

Secured loans involve funds paid directly to a designated merchant for purchase financing. If approved, money may be deposited and available for use as early as the next business day. In addition, funds from unsecured loans are not restricted and may be used for just about any purpose or financial need a borrower may have.

Two types of bad credit auto loans that are available in Texas are car title loans and auto loans. A car title loan provider may offer near-instant access to cash, often with short-term loans financed over 15 to 30 days. Car title loans can be costly, but car title loans are currently legal as a lending option in Houston, TX.

Many direct lenders also offer traditional auto loans, but it can be challenging to meet the criteria for approval with a low credit score or little to no credit history. In efforts to help customers with bad credit get into vehicles, used car dealerships may offer in-house financing as an alternative to conventional lender approval.

To get approved for a home loan through a conventional mortgage lender, the minimum credit score to apply is typically 620 or above with no recent bankruptcies, foreclosures, judgments, or collections. Applicants who have a credit score of 580 or below may qualify for a loan through the FHA. A VA loan is also another option, but there are specific qualifications needed, such as veteran or active-duty status.

Like title loans, bad credit payday loans are typically short-term loans borrowed over 15 to 30 days. Payday loans in Texas have few regulations, so be mindful of what terms you may sign up for with a payday loan.

Houston residents may be able to use the funds from bad credit loans in various ways.

Many products or services may be financed through a bad credit personal loan.

Leases & loans are quite different – here’s what you need to know:

• A loan (or personal loan) is generally a lump sum of funds provided on the recipient’s behalf that is paid back over time (and, like most loans, includes interest.)
• A lease (or lease-to-own option) allows the recipient to possess the leased item for a pre-determined period of time and includes the option to purchase the item outright. It does not include interest but has leasing fees.

Bad credit loans may help Texans access funding necessary to obtain products and services. Things like broken appliances, and unexpected expenses can happen at the most inconvenient times, so it’s helpful to know that financing options* even with bad credit, are available.

Products that can be financed with bad credit loans may include (but aren’t necessarily limited to) refrigerators/appliances, air conditioners, mattresses, jewelry, and electronics. Here are some financed products:

**Please Note: Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or alternative payment solution you intend to apply for.

**Retail prices may vary based on extras and the type of product you purchase. For example, a TV can have a retail price as low as $300, however, some models may have a retail price upwards of $3,500 or more.

There are not a lot of options available for borrowers trying to apply for a loan from a traditional financial institution or lender with bad credit.

However, with the rise of alternative lenders and other options, for those with less-than-stellar or no credit, there are more options than before. Like most things, it’s best to learn about all the options that may best fit your financial needs as rates and other details vary from one lender type to another.

Interested in applying for a loan on our site? Find a store near you* and apply to see if financing is an option.

**Please Note: Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or alternative payment solution you intend to apply for.