MORTGAGE

Resale Mortgages

Buy a previously owned home with our help. Prequalify for a GECU Home Loan1 today to get started! 

Resale Purchases

Get the resale home that you want with GECU

  • Lending options: We offer conventional, FHA and VA2 loans for the purchase of resale homes.
  • Seamless process: Our mortgage team is here to guide you through the entire homebuying and resale home loan process.
  • Credit union difference: Our resale home loan process is simple and comes with competitive interest rates and flexible terms that work for you.
  • Home-purchase assistance: Take advantage of our home-purchase assistance programs3 for the purchase of a resale home. We help make the resale home loan process easy for you.
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Related home loan offerings

TruStage Insurance

TruStage©4 offers GECU members discounts on their insurance premiums for homes, autos, motorcycles or RVs.
Get an insurance quote

Resale home-purchase assistance

  • Programs are available through the City of El Paso and federal grants
  • Welcome Home El Paso program offers up to 5% of the home loan in down-payment assistance
  • Some assistance programs don’t require you to pay back the assistance
View home-purchase assistance

Find a realtor

  • Working with the right realtor can get you into the home you’re looking for quicker
  • We work with many realtors in your area
  • Find a realtor with the Greater El Paso Association of REALTORS®
Find a realtor now
We’re Here to Answer Your Resale Mortgage Questions
  • What is a resale home?
    A resale home is a home that is for sale and had previous owners.
  • How do I know whether to purchase a resale or new construction?
    The home loan process to purchase a resale or new construction is fairly similar. It will all depend on what you are looking for in your home. 
  • Does GECU offer VA and FHA loans for resale homes?
    Yes, we work with both programs for resale mortgages.
  • What documents do I need to provide when I apply for a home loan to buy a resale?
    You may need the following information throughout the resale home loan process:
    • Most-recent two years W-2s
    • Most-recent two years 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.)
  • Why do I need a prequalification letter?
    A prequalification lets you know how much home you can afford. At times, realtors and builders may request a letter in order to enter into contract with them for a resale home.
  • How much home can I afford?
    Use our home loan calculator to get an estimate of how much you can afford on a resale mortgage. Or if you are in the market, you can apply for a prequalification letter online now or by calling toll-free at 1.800.772.4328.
  • How do I get prequalified?
    Before you begin the resale home loan process, we can provide you with a prequalification letter. Get prequalified online now or by calling us toll-free at 1.800.772.4328.
  • How much down payment do I need?
    We have several home and resale home loan products and assistance programs. Depending on what is best for you, you may come with as little as no down payment when you purchase your home.

Disclosures

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11All loans are subject to credit qualification and approval. The property must be located in Texas or New Mexico. Certain fees and conditions apply. Membership eligibility is required.
2VA loans are offered to qualified borrowers that 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.
4TruStage® Insurance products and programs are made available through TruStage Insurance Agency, LLC. Life insurance and AD&D insurance are issued by CMFG Life Insurance Company. The Auto and Home Insurance Program is issued by a leading insurance company. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any depository institution. Disclaimer: GECU does not endorse the organization(s) associated with the TruStage Insurance Programs and, hereby disclaims any responsibility of such organization(s). GECU does not represent either the third party or the member if the two enter into a transaction.
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