Loan Costs and Regulations

Fixed-Rate vs. Variable-Rate Installment Loans Almost every installment loan in Texas uses a fixed rate. Your interest rate and your monthly payment stay the same for the whole loan term. Variable rate loans are rare for this loan type — they show up more often in lines of credit or real estate-secured loans. This guide …

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APR vs. Interest Rate An interest rate is the price charged for borrowing money, shown as a yearly percentage. APR takes that price and adds every fee charged to arrange the loan, divided over a year, so it reflects what the loan actually costs. The two numbers can land close together or far apart, depending …

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