Hermosa Loans works with Texans throughout the state to help try to make financial emergencies easier. If you’re a Dallas resident in need of fast cash advance, we encourage you to complete an online loan request form.
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 loan similar to a personal loan. Installment loans are repaid in equal monthly payments over a period of time. These loans are usually repaid within six to 12 months, depending on the borrowed amount.
A title loan is a secured loan that can be used as an alternative to payday loans. The borrower uses their vehicle's title as collateral to secure the title loan. The loan term depends on the amount borrowed. For example, Dallas residents may get around 25% to 50% of their vehicle's value. If the loan applicant defaults on their title loan, the loan provider may legally repossess the car.
To request a title loan, applicants usually need to present the following documents:
Before you use our loan request service, ensure that you meet the basic requirements to qualify for a loan in Dallas. Applicants must:
Be a Texas resident
Be at least 18 years of age
Have a steady source of income
Have a checking account
If you have a savings account instead of a checking account, a lender may still be willing to work with you. Some lenders may even choose to provide you cash disbursements.
Note that lenders may use your personal information to verify your identity and perform a credit check through a credit bureau
Hermosa Loans is not a direct lender. Therefore, you do not make any payments to us. Instead, lenders in our network may present you with several repayment options.
What are the requirements to qualify for a loan in Dallas?
Each lender will set its own minimum financial and credit requirements. However, most lenders will typically require 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?
The average APR in Dallas ranges around 400% to 500%. However, the rate can differ based on the borrower's credit score, income, and credit history. Typically, borrowers with a lower score will have higher interest rates, and borrowers with higher scores may enjoy more favorable terms.
Does Hermosa Loans provide title loans in Dallas?
At this time, Hermosa Loans can only connect eligible consumers to lenders who may offer them short-term and long-term loans in the form of cash advances, payday loans, and installment loans.
What's the maximum number of loans I can have at the same time?
The city of Dallas does not explicitly state the number of outstanding loans you can have at one time. However, to practice healthy financial habits, it is best to only have one loan at a time. Having multiple loans simultaneously can cause you to incur more debt and negatively affect your credit score.
What's the minimum loan term?
The minimum loan term in Dallas is seven days, and the maximum is 180 days.