McAllen at a glance
- Population: 146,593 people, the 23rd-largest place among Texas's 1,224 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 142,194 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: up roughly 3.1% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Texas places: 23rd of the state's 1,224 Census places (US Census Bureau).
- Size percentile: ahead of around 98% of Texas places in population terms (US Census Bureau).
- Coordinates: 26.2250, -98.2461 (US Census Bureau Gazetteer).
- Nearest larger cities: Brownsville, TX (52 mi); Laredo, TX (120 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Palmhurst, TX (4 mi); Mission, TX (5 mi); Pharr, TX (5 mi) (Census populations).
What a personal loan costs in McAllen
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Texas lending rules that apply in McAllen
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 McAllen
The order below is a sensible way to approach a loan in McAllen:
- 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.