Ferris at a glance
- Population: 3,370 residents, the 462nd-largest of 1,224 places in Texas (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,789 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: up roughly 20.8% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Texas places: 462nd largest of 1,224 (US Census Bureau).
- Size percentile: about 62% of places in Texas are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 32.5367, -96.6755.
- Nearest larger cities: Wilmer, TX (4 mi); Red Oak, TX (7 mi); Lancaster, TX (7 mi); Hutchins, TX (8 mi); Glenn Heights, TX (10 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Pecan Hill, TX (7 mi); Palmer, TX (8 mi); Combine, TX (10 mi) — US Census Bureau populations.
What a personal loan costs in Ferris
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Texas lending rules that apply in Ferris
The Texas rate caps and licensing rules that reach Ferris are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Ferris
Run through this list before signing anything in Ferris:
- 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.