Best Personal Loans in Dallas, TX

Q: What are some personal loan red flags to look out for?

When considering personal loans , be aware of red flags such as extremely high APRs, strict repayment penalties and a lack of lender transparency.

Texas Telcom Credit Union offers the best personal loans in Dallas, Texas, with a MoneyGeek score of 94 out of 100. It excels in loan terms and flexibility, application process and approval, and reputation and transparency.

By Zachary Romeo, CBCA

Reviewed by Alvin Yam, CFP

Edited by Lukas Velunta

Updated: November 21, 2024

Advertising & Editorial Disclosure

Texas Telcom Credit Union is the best personal loan lender in Dallas, Texas, with a MoneyGeek score of 94 out of 100, providing flexible repayment terms, a quick application and approval process, and a credible and transparent loan process, while Laurel Road is the best lender for online personal loans, earning a MoneyGeek score of 93 out of 100 for its strong customer service.

We prioritized local lenders and scored them based on factors like interest rates, loan terms, loan application process and loan funding to gather our best city recommendations. If you're looking for national lenders, we compiled our top picks in the best personal loans in Texas.

MoneyGeek analyzed hundreds of lenders based on a rubric that includes APR ranges, loan amounts and repayment terms, among other key areas. We use a point-based system, assigning scores according to the presence or absence of certain desirable features in various critical categories.

Our overall analysis was completed in August 2024. Here we considered banks and credit unions with brick-and-mortar locations in Dallas, Texas. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Dallas, TX

Texas Telcom Credit Union

MoneyGeek Score94

APR Range10.75% to 18%

Loan Amount RangeFrom $500

Repayment TermsUp to 60 months

Time to Receive FundsUndisclosed

Overview

Texas Telcom Credit Union stands out as the best personal loan lender in Dallas, Texas, achieving a MoneyGeek score of 94 out of 100. It offers several attractive features, such as being federally insured by the NCUA, ensuring financial safety for its borrowers.

Best Online Personal Loan in Dallas, TX

Laurel Road

MoneyGeek Score93

APR Range9.49% to 24.50%

Loan Amount Range$5,000 to $45,000

Repayment Terms36 to 60 months

Time to Receive FundsWithin 7 Days

Overview

Laurel Road is the best online lender for personal loans in Dallas, Texas, with a MoneyGeek score of 93 out of 100. This lender offers a personal loan amount range from $5,000 to $45,000 and repayment terms stretching from 36 to 60 months.

Calculate Your Monthly Payment in Dallas, TX

The United States Census Bureau reported that the median annual household income in Dallas, Texas in 2022 was $65,400. Whether your income is above or below this median value, it's essential to focus on your ability to afford the monthly loan payments. Use our personal loan calculator to estimate your monthly loan payments and the total cost of the loan by entering the loan amount, rate and terms.

For example, if you take out a $10,000 personal loan with a 10% interest rate and a three-year repayment term, your monthly loan payment would be $323, totaling $3,876 per year. This represents about 6% of the median annual household income in Dallas.

Personal Loan Calculator

Estimate the monthly payment for your loan.

Updated: Dec 21, 2024

Loan Amount

Loan Term

5 Years

Interest Rate

Payment:

$0/Month

Total Principal Paid:

Total Interest Paid:

Total Paid

Why You Can Trust MoneyGeek

Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.

Runner-Up for Best Personal Loan in Dallas, TX

Southwest Airlines Federal Credit Union

MoneyGeek Score94

APR Range9.49% to 18.00%

Loan Amount RangeUndisclosed

Repayment TermsUp to 60 months

Time to Receive FundsUndisclosed

Overview

Southwest Airlines Federal Credit Union is the runner-up for the best personal loans in Dallas, Texas, with a MoneyGeek score of 94 out of 100. It offers several pros for borrowers, including being federally insured by the NCUA, which ensures a level of trust and security for your funds.

Other Options for Personal Loans in Dallas, TX

Power Financial Credit Union

MoneyGeek Score93

APR RangeFrom 13.23%

Loan Amount Range$500 to $30,000

Repayment TermsUp to 60 months

Time to Receive FundsUndisclosed

Overview

Power Financial Credit Union offers personal loans in Dallas, Texas, with a MoneyGeek score of 93 out of 100. It provides a competitive APR range starting at 13.23% and allows borrowers to take out loans from $500 to $30,000, with repayment terms up to 60 months.

Neighborhood Credit Union

MoneyGeek Score91

APR Range10.99% to 17.99%

Loan Amount RangeUndisclosed

Repayment Terms0 to 60 months

Time to Receive FundsUndisclosed

Overview

Neighborhood Credit Union is another good choice for personal loans in Dallas, Texas, receiving a MoneyGeek score of 91 out of 100. It stands out as a strong option for borrowers who prioritize security and flexibility, being federally insured by the NCUA and offering the option to skip a loan payment.

BEST PERSONAL LOANS IN OTHER CITIES IN TEXAS

National Lenders With Physical Locations in Dallas, TX

If you're in Dallas, Texas, and prefer to work with a national lender for a personal loan, there are several options where you can receive in-person assistance. Among these are some prominent lenders: PenFed, Truist, Wells Fargo, PNC and U.S. Bank. To compare and find the best personal loans, prospective borrowers can visit these institutions directly and discuss loan terms, interest rates and other relevant details to find the right fit for their financial needs.


PNC	Undisclosed	$1,000 to $35,000	6 to 60 months
PenFed	7.99% to 17.99%	Up to $50,000	Up to 60 months
Truist	8.74% to 17.39%	Starting from $3,500	24 to 60 months
U.S. Bank	8.74% to 24.99%	$1,000 to $50,000	12 to 84 months
Wells Fargo	7.49% to 23.24%	$3,000 to $100,000	12 to 84 months

What to Do if You Can't Get a Personal Loan in Dallas, TX

Your personal loan application in Dallas, Texas, can get denied due to various reasons like a low credit score, negative financial history or an unfavorable debt-to-income ratio. If this happens, there are steps you can take to navigate this setback.

1
Find out the reason for the denial
Some lenders may deny your loan application due to a poor credit score, high debt-to-income ratio, low income level or errors in your application. Review the reasons to improve your weak areas and prevent another loan application denial in the future.
2
Modify your loan terms
You can try asking your lender if you can adjust the loan amount or repayment terms to get approved.
3
Look for another lender
Different lenders have varying eligibility criteria for personal loan approval. Shop around and consider factors such as minimum credit score requirements, interest rates, loan terms, additional fees and customer service to find the best lender for your particular needs and circumstances.
4
Explore credit counseling services
Lenders often look at your debt-to-income ratio when evaluating your loan application. You may consider a credit counseling agency to better manage your credit card debt and develop your budget. You can get credit counseling services from the City of Dallas' Financial Empowerment Center. The Department of Justice's list of approved credit counseling agencies can be another option.

FAQ About Personal Loans in Dallas, TX

We addressed common questions regarding top personal loans in Dallas, Texas, offering clarity to assist your decision-making process.

What is the best overall personal loan lender in Dallas, Texas?

Texas Telcom Credit Union is recognized as the best overall personal loan lender in Dallas, Texas, with an APR range of 10.75% to 18%, loan amounts starting from $500 and repayment terms up to 60 months.

What are personal loans used for in Dallas, Texas?

Personal loans can be used for a variety of needs, including home improvements, medical expenses and emergency situations. While there is versatility in how you can use personal loans, some lenders may not allow funds to be used for college tuition or gambling.

What are the interest rates on personal loans in Dallas, Texas?

Based on the lenders included in our database, personal loans in Dallas, Texas feature APRs ranging from 9.49% to 18%. Always compare personal loan rates to find the best offer for you.

What are the benefits and drawbacks of personal loans?

Personal loans offer benefits like lower interest rates, the ability to consolidate debt and quick access to funds. However, they can also present risks such as origination fees and collateral risk in secured loans.

What are some personal loan red flags to look out for?

When considering personal loans, be aware of red flags such as extremely high APRs, strict repayment penalties and a lack of lender transparency.

How to apply for a personal loan online?

Many lenders now allow you to apply for a personal loan through a quick and straightforward online application process on their websites.

Can I get a personal loan with bad credit in Dallas, Texas?

Getting a personal loan with bad credit in Dallas, Texas is possible but may be more challenging. Explore your options with our recommendations for the best loans for bad credit and best loans for bad credit in Texas.

What are the best low-interest personal loans in Dallas, Texas?

We've compiled some of the best low-interest personal loans to help you explore your options for financing with lower borrowing costs.

What is an installment loan? Is there a difference between personal loans and installment loans in Dallas, Texas?

Personal loans are a type of installment loan, which refers to loans that are repaid over time with a set number of scheduled payments. There is no difference in Dallas, Texas; the term "\installment loan" simply denotes the repayment schedule.

Is there a difference between credit union loans and bank loans in Dallas, Texas?

Credit union loans may offer lower interest rates and less stringent application requirements than bank loans. Whether opening a bank account, checking account, or looking to apply for a loan, it's beneficial to compare options from both credit unions and banks.

Personal Loans

Best Personal Loans

Personal Loans

Best Bad Credit Loans

About Zachary Romeo, CBCA

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.

Read Full Bio »

sources

United States Census Bureau. "Dallas City, Texas." Accessed October 9, 2024.
U.S. Department of Justice. "Credit Counseling Agencies - Texas." Accessed October 9, 2024.
City of Dallas. "Financial Empowerment Center." Accessed October 9, 2024.

The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.

Best Personal Loans in Dallas, TX

Overall Best Personal Loan in Dallas, TX

Best Online Personal Loan in Dallas, TX

Calculate Your Monthly Payment in Dallas, TX

Personal Loan Calculator

Runner-Up for Best Personal Loan in Dallas, TX

Other Options for Personal Loans in Dallas, TX

National Lenders With Physical Locations in Dallas, TX

What to Do if You Can't Get a Personal Loan in Dallas, TX

Find out the reason for the denial

Modify your loan terms

Look for another lender

Explore credit counseling services

FAQ About Personal Loans in Dallas, TX

What is the best overall personal loan lender in Dallas, Texas?

What are personal loans used for in Dallas, Texas?

What are the interest rates on personal loans in Dallas, Texas?

What are the benefits and drawbacks of personal loans?

What are some personal loan red flags to look out for?

How to apply for a personal loan online?

Can I get a personal loan with bad credit in Dallas, Texas?

What are the best low-interest personal loans in Dallas, Texas?

What is an installment loan? Is there a difference between personal loans and installment loans in Dallas, Texas?

Is there a difference between credit union loans and bank loans in Dallas, Texas?

sources