Palmer at a glance
- Population: 2,555 residents, the 532nd-largest of 1,224 places in Texas (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,399 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: population rose about 6.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Texas places: 532nd largest of 1,224 (US Census Bureau).
- Size percentile: ahead of around 57% of Texas places in population terms (US Census Bureau).
- Coordinates: it sits at 32.4251, -96.6671 in the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Ennis, TX (7 mi); Ferris, TX (8 mi); Red Oak, TX (9 mi); Waxahachie, TX (10 mi); Wilmer, TX (12 mi) (US Census Bureau).
- Smaller towns nearby: Garrett, TX (4 mi); Pecan Hill, TX (8 mi); Bardwell, TX (11 mi) (US Census Bureau).
What a personal loan costs in Palmer
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Texas lending rules that apply in Palmer
The sourced rows below are the rules a licensed lender must follow when lending in Texas, and therefore in Palmer.
| 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 Palmer
Before you share your details with a lender in Palmer:
- 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.