Parker at a glance
- Population: about 6,192 residents, ranking 332nd of 1,224 Census places in Texas (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 5,459 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: up about 13.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Texas places: 332nd out of 1,224 Census places (US Census Bureau).
- Size percentile: about 73% of Texas's Census places are smaller (US Census Bureau).
- Coordinates: 33.0608 latitude, -96.6252 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Murphy, TX (3 mi); Lucas, TX (4 mi); Allen, TX (4 mi); Fairview, TX (6 mi); Wylie, TX (6 mi) (US Census Bureau populations).
- Smaller places nearby: St. Paul, TX (4 mi); Lowry Crossing, TX (9 mi); New Hope, TX (11 mi), per US Census Bureau estimates.
What a personal loan costs in Parker
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
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.
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 Parker
The table lists the Texas rules that apply to a loan made in Parker, each with the regulator that published it.
| 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 Parker
Before you commit to a personal loan in Parker, work through these steps:
- 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.