If you have been looking at Las Colinas homes for sale in Irving, you have probably noticed the listings do not always line up. A gated single-family home on a golf course and a 20th-floor condo overlooking Lake Carolyn both come up under the same search, and they are not remotely the same purchase.
The difference that catches most buyers is the carrying cost. A Las Colinas property can owe dues to three separate associations, and every one of them counts against what you qualify to borrow. This guide covers what Las Colinas actually is, what the different housing types cost, how the HOA layers stack, and where the financing changes depending on which one you buy.
Key Takeaways
- Las Colinas is not a city. It is a 9.4 square mile master-planned development inside Irving spanning zip codes 75038, 75039, and 75063. Valley Ranch is a separate Irving community and is not part of it.
- A property here can owe three associations: the Las Colinas Association master assessment at $0.115 per $100 of appraised value, a neighborhood HOA in communities like Hackberry Creek, and, for a condominium, the building’s own dues.
- Every one of those dues counts in your debt-to-income ratio, so they reduce the loan amount you qualify for at the same price and the same income.
- Condominiums get project review alongside you. Fannie Mae requires at least 10% of the association budget allocated to replacement reserves and no more than 15% of units 60 days or more past due.
- Request the resale certificate the day you go under contract. Texas gives the association 10 days to deliver it, and it answers most of what an underwriter will ask.
What Las Colinas Actually Is
Las Colinas is not a city. It is a 9.4 square mile master-planned development inside Irving, started in 1972 by developer Ben H. Carpenter on land that had been the Hackberry Creek Ranch. Homes there carry Irving addresses and Irving zip codes, mainly 75038, 75039, and 75063.
That surprises people who searched for a Las Colinas zip code is that they find Irving. The Las Colinas Association governs the development, but the post office, the city, and the tax bill all say Irving.
Inside it sits a long list of residential subdivisions: Cottonwood Valley, Hackberry Creek, University Hills, Mandalay Place, Positano, The Terraces, La Villita, Avalon Square, Parkside, Fairway Vista, Fox Glen, Grand Treviso, Hunter’s Ridge, and Riverside Village, among others.
One thing worth watching out for, because a lot listings tend to get it wrong: Valley Ranch is a separate Irving community and is not part of Las Colinas. If a listing is in Valley Ranch, the Las Colinas Association assessment does not apply to it.
The Three Types of Las Colinas Homes for Sale
Las Colinas real estate splits into three buckets, and the bucket determines your loan more than your credit score does.
Urban Center condominiums and lofts (75039)
This is the area around Lake Carolyn, the Mandalay Canal, and Water Street. High-rise and mid-rise buildings, structured parking, elevator access, walkable to the Toyota Music Factory. This is where the condominium financing rules apply in full, and where a purchase can stall on paperwork that has nothing to do with the borrower.
Las Colinas townhomes
These are scattered across 75038 and 75039, in developments like Grand Treviso and the townhome sections of Mandalay Place. Here the legal structure matters more than the architecture. Many Las Colinas townhomes are platted as single-family attached homes, which means the lender underwrites you alone. Others are legally condominiums despite looking like rowhouses, and those get the full project review. Some of the newest townhome stock here is new construction in Las Colinas, which changes the financing again.
Gated single-family (75038, 75063)
Cottonwood Valley, Hackberry Creek, and the golf-course neighborhoods. Larger lots, gatehouse access, and the most straightforward financing of the three, since no project review applies. The tradeoff is the neighborhood HOA, which in these communities is a real line item on top of the master assessment.
What the Price Bands Look Like
Zip-level values give a rough sense of the spread:
| Zip code | Average home value | Change YoY | As of |
|---|---|---|---|
| 75039 (Urban Center) | $642,630 | Down 1.3% | May 31, 2026 |
| 75063 (Hackberry Creek, Cottonwood Valley) | $608,378 | Down 0.2% | July 31, 2026 |
| Irving citywide, for comparison | $346,142 | Down 1.3% | June 30, 2026 |
Source: Zillow Home Value Index. Values update monthly, and a zip average blends a high-rise studio with a golf-course estate, so treat these as orientation rather than a price for any specific home.
The Las Colinas HOA Layers, and What They Actually Cost
This is the part that catches buyers who have owned elsewhere. A property here can owe three separate associations.
| Layer | What it is | How it is charged |
|---|---|---|
| Las Colinas Association | The master association for the whole development. Architectural control, security services, and common property. | $0.115 per $100 of appraised value, billed for the calendar year, due July 1 |
| Neighborhood or subdivision HOA | Community-level association in places like Hackberry Creek or Cottonwood Valley. Gatehouse staffing, streets, walls, parks. | Varies by community. Some charge a flat annual amount, some charge a rate against appraised value |
| Condominium association | Only for condominiums. Building insurance, elevators, structural maintenance, reserves. | Monthly dues set by the building budget |
Source: Las Colinas Association, current published assessment rate and billing terms.
The master assessment is calculated on the prior year’s Dallas Central Appraisal District value, and it applies to every property type in the development, including offices, retail, and unimproved land, not just homes. On a home appraised at $600,000, the Las Colinas Association assessment runs $690 for the year.
That figure is the one layer you can calculate yourself. The other two vary by community and by building, and they are stated in the association documents rather than published on a website.
Why the Layers Change What You Qualify For
Association dues count in your debt-to-income ratio the same way property taxes and homeowners insurance do. A condo with high monthly dues reduces the loan amount you qualify for, at the same price and the same income.
So the useful question is not what the home costs. It is what the home plus every association attached to it costs each month.
Get the real dues figures before you settle on a price range. You can work the numbers with our Texas mortgage calculator, and our Irving buyer’s guide covers the property tax side, which in Irving runs a combined $2.139075 per $100 of assessed value under the rate adopted in September 2025.
Financing a Condominium in Las Colinas
Las Colinas condominiums get underwritten as a project alongside you. Two buildings can be identical to walk through and completely different to finance.
The conventional standard is set by Fannie Mae, and two thresholds do most of the work. The association budget has to allocate at least 10% to replacement reserves, and no more than 15% of the units can be 60 days or more past due on assessments. A project that misses either one is not eligible for standard conventional financing.
A recent change worth knowing about. For loan applications dated on or after August 3, 2026, lenders can no longer use the baseline funding methodology to establish that a project’s reserves are adequate. If a Las Colinas building was relying on a reserve study read that way, its financing status may have shifted this month. Worth asking about specifically on any building you are considering.
A project that fails these tests is called non-warrantable, which does not mean the purchase dies. It means the loan moves to a different product. We cover how that works in our guide to non-warrantable condos and on our non-warrantable condo financing page.
FHA and VA on a Las Colinas Condominium
Both require the project itself to be approved, separately from approving you.
For FHA, the building either sits on the approved list or the unit qualifies through Single-Unit Approval. Single-Unit Approval is capped at 10% of the total units in a project of 10 or more units, and at two units in a smaller project, so the slots can already be spoken for in a building that has sold several FHA units. Check a specific address against HUD’s condominium lookup tool before you write, not after.
VA works the same way: the project carries its own approval, and borrower eligibility does not substitute for it.
Jumbo territory
At the top of the Urban Center and in the golf-course neighborhoods, loan amounts clear the 2026 Texas conforming loan limit of $832,750 and move into jumbo financing. Every Texas county sits at the standard limit, so there is no high-cost adjustment here.
A note on rates while you weigh the options: A higher rate is not automatically the wrong outcome. If a temporary buydown or seller-paid points produce a monthly payment you can carry comfortably alongside the association dues, that structure has done its job.
What to Ask For Before You Write an Offer
On a condominium, the paperwork is essential to get upfront.
Under Texas Property Code Section 82.157, the association must furnish a resale certificate no later than the 10th day after receiving a written request, and the certificate must have been prepared no earlier than three months before it is delivered. It covers the current budget and financial statements, the assessment amounts, approved capital expenditures for the next 12 months, reserve fund information, pending lawsuits and unsatisfied judgments, insurance coverage, and every transfer fee payable to the association.
That single document answers most of what an underwriter will ask. Request it the day you go under contract.
Alongside it, ask for:
- The HOA questionnaire completed by the association or its management company
- The current reserve study, and whether the association has been relying on baseline funding
- Confirmation of the project’s FHA or VA approval status if you are using either
- The Las Colinas Association account status for the property, since the master assessment is billed separately from the neighborhood HOA
- Any special assessment approved or under discussion, which the resale certificate covers for the next 12 months but not beyond
View mortgage rates for
October 8, 2026
Frequently Asked Questions
Is Las Colinas a city or part of Irving?
Las Colinas is not a city. It is a 9.4 square mile master-planned development inside Irving, Texas, started in 1972 by developer Ben H. Carpenter on land that was the Hackberry Creek Ranch. Homes there carry Irving mailing addresses and Irving zip codes, mainly 75038, 75039, and 75063.
What is the Las Colinas Association assessment?
The Las Colinas Association assessment is $0.115 per $100 of appraised property value, billed for the calendar year and due July 1. It is calculated on the prior year’s Dallas Central Appraisal District value and applies to every property type in the development, including single-family homes, condominiums, offices, and retail. It is separate from, and in addition to, any neighborhood HOA or condominium association dues.
Do Las Colinas homes have more than one HOA?
Often, yes. A Las Colinas property can carry up to three layers: the Las Colinas Association master assessment, a neighborhood or subdivision HOA in communities like Hackberry Creek or Cottonwood Valley, and, for a condominium, the building’s own association dues. Confirm every layer that applies to a specific address before setting a budget, because all of them count toward mortgage qualification.
Can you get an FHA loan on a Las Colinas condo?
Only if the project is on the FHA-approved list or the unit qualifies through FHA Single-Unit Approval. Single-Unit Approval is capped at 10% of the total units in projects with 10 or more units, and at two units in smaller projects, so approval slots can already be taken. Check a specific building on HUD’s condominium lookup tool before writing an offer.
What is a resale certificate and when do I get it?
For a Texas condominium, the resale certificate is the association’s disclosure of the budget, financial statements, current assessments, reserve funding, pending lawsuits, insurance, and transfer fees. Under Texas Property Code Section 82.157 the association must furnish it no later than the 10th day after receiving a written request, and it must have been prepared no earlier than three months before delivery.
Are Las Colinas townhomes a good alternative to a condo?
Sometimes, and the reason is financing rather than lifestyle. Many Las Colinas townhomes are legally platted as single-family attached homes rather than condominiums, which means the lender underwrites you and not the project. If the townhome is legally a condominium, project review applies exactly as it would in a high-rise. The plat and the title work tell you which one you are buying.
How much do homes cost in Las Colinas?
Las Colinas spans several price bands. The 75039 zip code covering the Urban Center had an average home value of $642,630 as of May 2026, and 75063 was $608,378 as of July 2026, both well above the Irving citywide average of $346,142. Prices move monthly, so confirm current figures for the specific neighborhood you are considering.
What neighborhoods are in Las Colinas?
Las Colinas contains numerous residential subdivisions including Cottonwood Valley, Hackberry Creek, University Hills, Mandalay Place, Positano, The Terraces, La Villita, Avalon Square, Parkside, Fairway Vista, Fox Glen, Grand Treviso, Hunter’s Ridge, and Riverside Village. Valley Ranch is a separate Irving community and is not part of Las Colinas.
Ready to Buy in Las Colinas?
The next step is getting a pre-approval to start shopping for homes in earnest, and to see what loan program you qualify for. You can also see the programs we run on our Irving mortgage lender page.
Ready to get pre-approved for a home in Las Colinas? Contact JVM Lending today to get started.
JVM Lending is not a tax professional or a legal advisor. Association assessments, project eligibility rules, and appraised values change. Confirm the Las Colinas Association rate and your parcel’s appraised value directly with the association and the Dallas Central Appraisal District, and consult an attorney about association documents.
Sources
- Las Colinas Association, Administrative Services
- Las Colinas development history, acreage, and subdivision list
- Fannie Mae Selling Guide B4-2.2-02, Full Review Process
- Fannie Mae condo project standards FAQ
- HUD Mortgagee Letter 19-13, Single-Unit Approval concentration limits
- HUD FHA-approved condominium lookup
- Texas Property Code Section 82.157, Resale of Unit
- Zillow Home Value Index
- City of Irving, combined property tax rate
