Southmayd at a glance
- Population: a Census-estimated 1,083, placing it 779th among Texas's 1,224 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 984 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: up about 10.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Texas places: 779th largest of 1,224 (US Census Bureau).
- Size percentile: roughly 36% of places in Texas rank below it by population (US Census Bureau).
- Coordinates: it sits at 33.6231, -96.7082 in the US Census Bureau Gazetteer.
- Nearest larger cities: Sherman, TX (5 mi); Howe, TX (10 mi); Pottsboro, TX (10 mi); Whitesboro, TX (12 mi); Collinsville, TX (12 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Dorchester, TX (6 mi); Knollwood, TX (7 mi); Sadler, TX (9 mi) (US Census Bureau).
What a personal loan costs in Southmayd
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.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
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 Southmayd
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Southmayd
The order below is a sensible way to approach a loan in Southmayd:
- 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.