Hico at a glance
- Population: the Census estimates 1,460 residents, ranking 693rd of 1,224 places in Texas (Vintage 2023).
- 2020 Census base: 1,332 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: an increase of about 9.6% since the 2020 count (US Census Bureau).
- Rank among Texas places: the 693rd-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: it exceeds roughly 43% of Texas's Census places by population (US Census Bureau).
- Coordinates: 31.9851 / -98.0284, per the US Census Bureau Gazetteer.
- Nearest larger cities: Stephenville, TX (19 mi); Dublin, TX (20 mi); Hamilton, TX (20 mi); Glen Rose, TX (24 mi); Clifton, TX (30 mi); US Census Bureau population estimates.
- Smaller places nearby: Iredell, TX (9 mi); Walnut Springs, TX (17 mi); Cranfills Gap, TX (19 mi), per US Census Bureau estimates.
What a personal loan costs in Hico
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Texas lending rules that apply in Hico
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Hico
The steps below are worth completing first when you borrow in Hico:
- 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.