Vernon at a glance
- Population: the Census estimates 9,788 residents, ranking 249th of 1,224 places in Texas (Vintage 2023).
- 2020 Census base: the 2020 Census recorded 10,082 residents here (US Census Bureau).
- 2020 to 2023 change: about 2.9% below the 2020 Census base (US Census Bureau).
- Rank among Texas places: the 249th-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: it exceeds roughly 80% of Texas's Census places by population (US Census Bureau).
- Coordinates: 34.1477 / -99.3004, per the US Census Bureau Gazetteer.
- Nearest larger cities: Altus, OK (35 mi); Burkburnett, TX (42 mi); Wichita Falls, TX (47 mi); Lawton, OK (60 mi); Duncan, OK (80 mi); US Census Bureau population estimates.
- Smaller places nearby: Davidson, OK (14 mi); Chillicothe, TX (14 mi); Frederick, OK (23 mi), per US Census Bureau estimates.
What a personal loan costs in Vernon
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 Vernon
The sourced rows below are the rules a licensed lender must follow when lending in Texas, and therefore in Vernon.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Vernon
The order below is a sensible way to approach a loan in Vernon:
- 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.