McKinney at a glance
- Population: 213,509 — 15th in Texas, which has 1,224 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 195,329 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 9.3% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Texas places: 15th of 1,224 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 99% of the places in Texas (US Census Bureau).
- Coordinates: 33.2011, -96.6642 (Census Gazetteer, US Census Bureau).
- Nearest larger cities within 120 miles: Frisco, TX (10 mi); Plano, TX (11 mi); Garland, TX (20 mi); Dallas, TX (29 mi); Irving, TX (30 mi) (US Census Bureau).
- Smaller places close by: Fairview, TX (5 mi); New Hope, TX (6 mi); Allen, TX (6 mi) (US Census Bureau).
What a personal loan costs in McKinney
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Texas lending rules that apply in McKinney
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 McKinney
Run through this list before signing anything in McKinney:
- 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.