Waco at a glance
- Population: 144,816, the 24th-largest community in Texas out of 1,224 (US Census Bureau, Vintage 2023).
- 2020 Census base: 140,122 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 3.3% more residents than the 2020 Census base (US Census Bureau).
- Rank among Texas places: 24th of the state's 1,224 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 98% of Texas's Census places by population (US Census Bureau).
- Coordinates: 31.5580, -97.1898 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Killeen, TX (46 mi); Grand Prairie, TX (79 mi); Arlington, TX (79 mi); Fort Worth, TX (85 mi); Dallas, TX (89 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Beverly Hills, TX (3 mi); Woodway, TX (5 mi); Bellmead, TX (7 mi) — US Census Bureau populations.
What a personal loan costs in Waco
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Texas lending rules that apply in Waco
Read the table as the compliance picture for a lender serving Waco: 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 Waco
The steps below are worth completing first when you borrow in Waco:
- 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.