Oakwood at a glance
- Population: 404 residents, the 1,034th-largest of 1,224 places in Texas (US Census Bureau, Vintage 2023).
- 2020 Census base: 387 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: up about 4.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Texas places: 1,034th largest of 1,224 (US Census Bureau).
- Size percentile: ahead of around 16% of Texas places in population terms (US Census Bureau).
- Coordinates: it sits at 31.5848, -95.8499 in the US Census Bureau Gazetteer.
- Nearest larger cities: Buffalo, TX (15 mi); Elkhart, TX (16 mi); Palestine, TX (17 mi); Fairfield, TX (21 mi); Grapeland, TX (23 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Latexo, TX (26 mi); Leona, TX (31 mi); Kirvin, TX (31 mi) (US Census Bureau).
What a personal loan costs in Oakwood
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Texas lending rules that apply in Oakwood
Each row below is a Texas rule with its publisher and the date it was retrieved.
| 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 Oakwood
The steps below are worth completing first when you borrow in Oakwood:
- 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.