New Summerfield at a glance
- Population: about 888, 834th by size in Texas of 1,224 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 842 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 5.5% more residents than the 2020 Census base (US Census Bureau).
- Rank among Texas places: the 834th-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 32% of the Census places in Texas (US Census Bureau).
- Coordinates: 31.9807, -95.1150 (US Census Bureau Gazetteer).
- Nearest larger cities: Jacksonville, TX (9 mi); Troup, TX (11 mi); Rusk, TX (13 mi); Bullard, TX (16 mi); Arp, TX (17 mi); US Census Bureau population estimates.
- Nearest smaller communities: Gallatin, TX (6 mi); Reklaw, TX (11 mi); Cuney, TX (18 mi), each a US Census place.
What a personal loan costs in New Summerfield
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.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Texas lending rules that apply in New Summerfield
Read the table as the compliance picture for a lender serving New Summerfield: label, sourced figure, publisher and 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 New Summerfield
Before you share your details with a lender in New Summerfield:
- 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.