BUYING & OWNING A HOME

Preparing for Homeownership & What Comes After

Whether you’re a first-time homebuyer, buying your forever home or looking for an investment property, our friendly, knowledgeable mortgage team is with you every step of the way!

Buying and Owning a Home
Buying and Owning a Home

How to prepare to buy a home

  • Use our calculators: Before you prepare for homeownership, calculate how much home you can afford with one of our calculators!
  • Get prequalified: Getting prequalified lets you know how much home you can afford. To learn how to prequalify for a home loan,1 speak to one of our home loan professionals.
  • Find a realtor: A realtor will help with the necessary paperwork, schedule home inspections, communicate with the sellers and more. GECU works with realtors in your area.
  • Choose your home: One-story vs. two-story. Classic- or Tuscan-style homes. New build vs. resale. The possibilities are endless when buying a new home!
  • Work with a builder: We offer the GECU Preferred Builders program. Find a builder that offers the style of home you’ve always dreamed of!
  • Make an offer: You can make an offer on a home you love through your realtor. The offer will set you apart from other people who are interested in the same home.
  • Finalize your loan: As you approach the closing, your lender will reach out to finalize your loan. They may ask you to provide certain documents.
  • Close: It’s time to close on your new home! Take a look at the final paperwork, sign the documents and get ready to move in.
VIEW HOME LOANS
Need more information to prepare for homeownership? Talk to us.
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Bring Your Dreams to Life

With a GECU Home Equity Loan


Our lives are different but our hopes, dreams and experiences connect us. We’re all searching for the same things — a place to call home, room to grow or a fresh financial start. Let us help you bring your dreams to life with a GECU Home Equity Loan1 and get a $500 gift card!* Enjoy our flexible terms with competitive rates and affordable payments.
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Your Homeownership Options

Explore some of our products and services that can help you learn how to purchase a home and reach all of your homeownership goals.

Home loans

Our mortgage team is here to help you purchase your first, second or forever home with FHA, VA2 and conventional home loans to fit your needs.

 

  • Competitive rates and flexible terms
  • Home-purchase assistance programs3
  • Preferred builders program
  • Financial education available
View home loans

Home-purchase assistance

GECU offers home-purchase assistance programs that can help many homebuyers fulfill their dream of homeownership.

 

  • Programs available through the City of El Paso and federal grants
  • Some programs offer up to 5% of the home loan amount in purchase assistance
  • Some programs don’t require you to pay back the assistance
View home assistance programs

Financial Education & Homeownership seminars

Sign up for one of our upcoming Financial Education and Homeownership seminars to learn about the homebuying process, how to prepare to buy a home, how to save on closing costs, and more. Our financial coaches will answer all of your questions and help prepare you for the purchase of a new home!

See upcoming seminars

Preferred builders program

  • GECU works with local builders like CareFree Homes, Classic American Homes, Definitive Homes and Hakes Brothers
  • Finance a home with us and see what builders have to offer
  • Find the latest models and communities
View preferred builders program

Financial education seminars

Sign up for one of our upcoming free financial education seminars on:


  • Understanding credit
  • Building a budget 101
  • Getting out of debt
  • Preventing identity theft
View upcoming financial seminars

Home improvement loans

Turn your house into a forever home with the help of a competitive rate home improvement loan!4

 

  • Install a pool
  • Update the landscaping
  • Add a new room or home office
  • Remodel the kitchen or a bathroom
View home improvement loans
We’re Here to Help With Your Homeownership Questions
  • What is prequalification?

    Being prequalified means that a lender has determined that you will likely be approved for a home loan up to a certain amount, based on your current financial situation. To get prequalified for a home loan, you simply provide a lender your level of income, assets and debt.

  • What type of home loans does GECU offer?

    We offer FHA, VA and conventional loans. A home loan professional will assist you in finding which one works for you.

  • What are the steps to buying a home?
    • Get prequalified
    • Find a REALTOR® or real estate agent
    • Choose a home
    • Make an offer
    • Get a home inspection
    • Get a home appraisal
    • Finalize your loan
    • Close on your home loan
  • What do I need to provide when I apply for a home loan?
    You may need the following information throughout the application process:
    • Two most-recent W-2s
    • Two most-recent federal tax returns
    • Pay stubs for the last 30 days
    • Two current, valid forms of identification (e.g., driver’s license, state-issued ID, Social Security card)
    • Most-recent bank statements for the last two months
    • Proof of any other income (Social Security, retirement, etc.)
View all home loan options

Disclosures

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Membership eligibility is required.
1All loans are subject to credit qualification and approval. The property must be located in Texas or New Mexico. Certain fees and conditions apply.
2VA loans are offered to qualified borrowers who are serving or have served in the United States Armed Forces. Other conditions may apply.
3Assistance programs are made available through third-party entities and are subject to qualification, income criteria, home-purchase price, and property location. Other conditions apply.
4All loans are subject to approval. Rates and terms are based on borrower’s credit qualifications and are subject to change. Other conditions apply.
*The $500 gift card will be available while supplies last. The gift card will be provided following the disbursement of the home equity loan. This offer is nontransferable, is limited to only one offer per household, and cannot be used in conjunction with any other offer. This is a limited-time offer and may be withdrawn at any time.
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