Personalloaned Compare rates

TX · city page

Personal loans in Midland, TX

A personal loan in Midland is an unsecured installment loan for consolidation or a planned expense, and what it costs follows your credit, income and debts. The Census counts about 138,397 residents in Midland, ranking it 25th among the 1,224 places in Texas. The sourced table below shows the Texas rate caps and licensing requirements that reach every loan made here.

By the Personalloaned Editorial Team · Last updated 2026-09-16

Compare rates Run the numbers first

Advertising disclosure: Personalloaned may receive a referral fee if you apply through a link on this page. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.

Midland at a glance

  • Population: 138,397 — 25th in Texas, which has 1,224 Census places (US Census Bureau, Vintage 2023).
  • 2020 Census base: 132,528 residents (US Census Bureau, 2020 Census).
  • 2020 to 2023 change: up roughly 4.4% across the 2020-to-2023 comparison (US Census Bureau).
  • Rank among Texas places: the 25th-largest of 1,224 (US Census Bureau, 2023 estimate).
  • Size percentile: larger than about 98% of the Census places in Texas (US Census Bureau).
  • Coordinates: the Census Gazetteer places it at 32.0246, -102.1135.
  • Nearest larger cities: Lubbock, TX (107 mi); each population is a US Census Bureau estimate.
  • Smaller places close by: Odessa, TX (17 mi); Stanton, TX (20 mi); Goldsmith, TX (30 mi) (US Census Bureau).

What a personal loan costs in Midland

Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.

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.

Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.

Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.

Texas lending rules that apply in Midland

Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.

RuleDetailSource
Small-loan / installment lender licensingLicense 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 regulatorTexas 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
Payday lending statusLegal 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

How to compare offers in Midland

Before you commit to a personal loan in Midland, work through these steps:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Texas using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Midland?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Midland are the same as elsewhere in Texas.
How much can I borrow with a personal loan in Midland?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Midland require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Midland hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

Related