Kermit at a glance
- Population: 5,952 residents, the 339th-largest of 1,224 places in Texas (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 6,272 residents here (US Census Bureau).
- 2020 to 2023 change: population fell about 5.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Texas places: 339th of 1,224 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 72% of places in Texas are smaller (US Census Bureau).
- Coordinates: 31.8539 latitude, -103.0924 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Monahans, TX (14 mi); Town of Pecos, TX (41 mi); Odessa, TX (44 mi); Andrews, TX (45 mi); Midland, TX (59 mi) (US Census Bureau populations).
- Smaller places close by: Wink, TX (8 mi); Jal, NM (19 mi); Wickett, TX (20 mi) (US Census Bureau).
What a personal loan costs in Kermit
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Texas lending rules that apply in Kermit
The table carries the Texas rate and licensing rules that apply to consumer loans made in Kermit.
| 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 Kermit
A few practical steps will make the process in Kermit less costly:
- 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.