Morgan at a glance
- Population: about 471 residents, ranking 992nd of 1,224 Census places in Texas (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 449 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: an increase of about 4.9% since the 2020 count (US Census Bureau).
- Rank among Texas places: the 992nd-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 19% of Texas's places have fewer residents (US Census Bureau).
- Coordinates: latitude 32.0159, longitude -97.6061 (US Census Bureau Gazetteer).
- Nearest larger cities: Meridian, TX (7 mi); Walnut Springs, TX (9 mi); Clifton, TX (16 mi); Whitney, TX (17 mi); Glen Rose, TX (18 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Blum, TX (15 mi); Iredell, TX (16 mi); Cranfills Gap, TX (21 mi) (US Census Bureau).
What a personal loan costs in Morgan
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Texas lending rules that apply in Morgan
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 |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Morgan
Before you share your details with a lender in Morgan:
- 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.