Hermosa Loans works with Texans throughout the state. If you’re an Arlington resident, we encourage you to complete an online loan request. We may be able to help.
is also known as a payday loan or cash advance. These are small-dollar loans that are usually repaid in a lump sum within two weeks.
also referred to as an installment loan, is a larger sum loan. Installment loans are repaid in equal monthly payments over a period of time. These loans are usually repaid within six to 12 twelve months, depending on the borrowed amount.
A title loan is a secured loan that can be used as an alternative to payday loans in Arlington. The borrower uses their vehicle’s title as collateral to secure the loan. The loan term depends on the amount borrowed. For example, Arlington residents may get around 25% to 50% of their vehicle’s value. If the loan applicant defaults on the title loan, the lender may legally repossess the car.
To request a title loan in Arlington, the lender may ask for the following documents:
Before requesting an online loan from our website, ensure that you meet the basic requirements to qualify for a loan in Arlington. Applicants must:
Be a Texas resident
Be at least 18 years of age
Have a steady source of income
Have a checking account
Note that lenders will use your personal information to conduct a credit check.
Hermosa Loans is not a direct lender. Therefore, borrowers do not make any payments to us. Instead, lenders in our network may offer you several repayment options.
What are the requirements to qualify for a loan in Arlington, Texas?
While each lender will set its own requirements, they'll typically ask for financial and personal documents. This information includes proof of steady income, identity verification documents like a government-issued ID, proof of a checking account, and fair to good credit standing. Moreover, the lenders will require that the applicant be at least 18 years old and a resident of Texas.
What's the APR for a short-term loan?
Typically, APR is around 400% to 500% in Arlington. However, the rate can be higher based on the borrower's credit score, income, and credit history. Most often, borrowers with lower scores will have higher interest rates, and borrowers with higher scores may enjoy lower rates.
Does Hermosa Loans provide title loans in Arlington?
Currently, Hermosa Loans does not connect consumers to title loan lenders. Instead, Hermosa Loans may be able to connect eligible consumers to lenders who may offer them short-term and long-term loans. Your options may include cash advances, payday loans, or installment loans.
What's the maximum number of loans I can have at the same time?
Alrington doesn't specify how many outstanding loans a borrower can have at one time. To be on the safe side, it is best to only take out one cash loan at a time. Having multiple payday loans simultaneously can cause you to incur more debt and negatively affect your credit score.
What's the minimum loan term in Arlington, TX?
The minimum loan term in Arlington is seven days, and the maximum is 180 days.