Mount Vernon at a glance
- Population: 2,557, the 531st-largest community in Texas out of 1,224 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 2,493 residents here (US Census Bureau).
- 2020 to 2023 change: up about 2.6% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Texas places: 531st largest of 1,224 (US Census Bureau).
- Size percentile: about 57% of Texas's Census places are smaller (US Census Bureau).
- Coordinates: 33.1774, -95.2244 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Mount Pleasant, TX (15 mi); Winnsboro, TX (16 mi); Pittsburg, TX (19 mi); Sulphur Springs, TX (23 mi); Clarksville, TX (31 mi), each a US Census place with its estimated population.
- Smaller towns nearby: Miller's Cove, TX (7 mi); Winfield, TX (7 mi); Talco, TX (15 mi) (US Census Bureau).
What a personal loan costs in Mount Vernon
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 longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Texas lending rules that apply in Mount Vernon
The sourced rows below are the rules a licensed lender must follow when lending in Texas, and therefore in Mount Vernon.
| 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 Mount Vernon
The order below is a sensible way to approach a loan in Mount Vernon:
- 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.