Is there a 5-bedroom home in the Fort Worth area under $365K with a lot of space? Welcome to 1856 Lariat Dr located in the Harriet Creek Ranch community serving both the Northwest Fort Worth and Justin areas. This property delivers an impressive amount of square footage and flexible living space for $365,000, making it an excellent option for buyers wanting more room without stretching their budget. Built in 2003 and offering 3,448 square feet, this home features 5 bedrooms, 3 full bathrooms, 3 living areas, and 2 dining spaces. The flexible layout provides room for large households, entertaining, or creating dedicated spaces such as a home office, game room, or media room. The large kitchen was updated in 2022, and the home also features recent interior paint and luxury vinyl plank flooring throughout most of the home, providing durability and modern style across the main living areas. A new HVAC system installed in 2022 adds additional comfort and efficiency. Located in Denton County and zoned to Northwest ISD, the home sits within the established Harriet Creek Ranch neighborhood, which offers community parks and a neighborhood swimming pool for residents. Homes in this area benefit from being in Denton County, which typically has lower property taxes than neighboring Tarrant County, while still offering convenient access to the North Fort Worth corridor. Many homes in this neighborhood carry Fort Worth addresses, and the location provides easy access to shopping, dining, Buc-ee's, Texas Motor Speedway, and major commuter routes. For buyers searching for a 5-bed home in the Fort Worth area at an affordable price, this property offers exceptional square footage, multiple living spaces, and strong overall value at $365,000, making it a great option for those wanting more space for the price.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
