Albany at a glance
- Population: 1,923, the 616th-largest community in Texas out of 1,224 (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,853 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a gain of roughly 3.8% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Texas places: 616th largest of 1,224 (US Census Bureau).
- Size percentile: roughly 50% of Texas's places have fewer residents (US Census Bureau).
- Coordinates: 32.7273, -99.2957 (US Census Bureau Gazetteer).
- Nearest larger cities: Breckenridge, TX (22 mi); Clyde, TX (25 mi); Stamford, TX (28 mi); Cisco, TX (30 mi); Abilene, TX (32 mi); US Census Bureau population estimates.
- Nearest smaller towns: Moran, TX (15 mi); Lueders, TX (20 mi); Baird, TX (24 mi) — US Census Bureau populations.
What a personal loan costs in Albany
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.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 Albany
The table lists the Texas rules that apply to a loan made in Albany, each with the regulator that published it.
| 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 Albany
The order below is a sensible way to approach a loan in Albany:
- 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.