Bonham at a glance
- Population: a Census-estimated 10,879, placing it 231st among Texas's 1,224 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 10,405 residents here (US Census Bureau).
- 2020 to 2023 change: roughly 4.6% higher than at the 2020 Census (US Census Bureau).
- Rank among Texas places: 231st largest of 1,224 (US Census Bureau).
- Size percentile: about 81% of Texas's Census places are smaller (US Census Bureau).
- Coordinates: 33.5880, -96.1901 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Sherman, TX (25 mi); Denison, TX (26 mi); Anna, TX (27 mi); Melissa, TX (30 mi); Durant, OK (30 mi) (US Census Bureau).
- Nearest smaller communities: Ector, TX (5 mi); Ravenna, TX (6 mi); Dodd City, TX (7 mi) (Census populations).
What a personal loan costs in Bonham
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
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 Bonham
The table lists the Texas rules that apply to a loan made in Bonham, 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 Bonham
Here is a short checklist for comparing personal loans in Bonham:
- 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.