Amherst at a glance
- Population: 655 residents, the 921st-largest of 1,224 places in Texas (US Census Bureau, Vintage 2023).
- 2020 Census base: 672 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: down roughly 2.5% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Texas places: 921st largest of 1,224 (US Census Bureau).
- Size percentile: about 25% of places in Texas are smaller (US Census Bureau).
- Coordinates: 34.0120 latitude, -102.4148 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Sudan, TX (7 mi); Littlefield, TX (8 mi); Earth, TX (15 mi); Olton, TX (20 mi); Anton, TX (20 mi); each population is a US Census Bureau estimate.
- Smaller places close by: Springlake, TX (16 mi); Opdyke West, TX (30 mi); Whiteface, TX (31 mi) (US Census Bureau).
What a personal loan costs in Amherst
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Texas lending rules that apply in Amherst
The table lists the Texas rules that apply to a loan made in Amherst, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Texas Office of Consumer Credit Commissioner (OCCC) Source says: The OCCC licenses and regulates non-depository lenders in the state of Texas. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per year maximum; a greater rate is usurious unless otherwise provided by law (Tex. Fin. Code § 302.001) Source says: The maximum rate or amount of interest is 10 percent a year except as otherwise provided by law. | Texas Legislature (Texas Constitution and Statutes) as of 2026-09-16 |
| Payday lending status | Legal via licensed credit access businesses (payday/title-loan brokers); the third-party lender itself is not licensed (Tex. Fin. Code ch. 393) Source says: the credit access business that serves as the broker is the licensee in this regulated industry | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Small-loan / installment lender licensing | License required for non-depository lenders charging more than 10% interest; Chapter 342 governs consumer loans (Tex. Fin. Code § 342.051) Source says: Non-depository lenders who engage in making, transacting, or collecting loans with a rate of interest greater than 10% must be licensed by the OCCC. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
How to compare offers in Amherst
The order below is a sensible way to approach a loan in Amherst:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Texas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.