More ways to get started: Call 915-778-9221

BUY A HOME

GET STARTED

Whether it’s your first home, your next home or even an investment property, we have the friendly, professional staff that is with you all the way.

PREQUALIFY TODAY

HOW IT WORKS

GET PREQUALIFIED (1)
GET PREQUALIFIED (1)
FIND A REALTOR
FIND A REALTOR
CHOOSE YOUR HOME
CHOOSE YOUR HOME
MAKE AN OFFER
MAKE AN OFFER
CLOSING
CLOSING

GET PREQUALIFIED (1)

Getting prequalified puts you in the driver’s seat. Figure out how much you can afford and let realtors know you’re ready to begin looking. It’s easy - get started today!

FIND A REALTOR

There are 1,500 licensed real estate agents in our community. Find a realtor who works for you. They can help you find the house of your dreams in a neighborhood you love.

CHOOSE YOUR HOME

Find where you’d like to live, anywhere from newly constructed areas to established neighborhoods. Look for a place with features that are important to your lifestyle like schools, shopping and accessibility.

MAKE AN OFFER

Work with your realtor to get the best price. Look at property values in the neighborhood to get a good idea of what to offer. Negotiate closing costs, landscaping, appliances and more.

CLOSING

Shop around for a title company. Get your house appraised and insured. Go over your paperwork and get ready to turn the key on your very own home.

HELPFUL RESOURCES

Ready To Buy A Home
WATCH

Getting Ready To Buy

Learn great tips like calculating how much home you can afford, about the prequalification process and understanding real estate professionals.

Understanding Your Credit
WATCH

How To Build And Improve Your Credit

Don’t just sit and wait for those scores to improve.  You have the power and the right to repair your credit.

Owning vs Renting
READ

Owning vs. Renting

Is it better to own or rent? There's no right answer for everyone, but you can answer some questions about your lifestyle to help make a decision.

Ready To Buy
WATCH

Getting Ready To Buy

Learn great tips like calculating how much home you can afford, about the prequalification process and understanding real estate professionals.

GEPAR
LEARN MORE

GEPAR

The Greater El Paso Association of REALTORS provides professional services for REALTORS to assist in their operations.

Counter Offer
READ

What Is A Counter Offer?

You've found a house that fits your life perfectly, and it's in a great neighborhood. The seller comes back with a counteroffer. What do you do?

Ready To Buy
WATCH

Ready To Buy A Home

Learn great tips like searching for a home, making an offer, finalizing your loans & understanding the closing process.

What to look for in a home
READ

What To Look For In A Home

We all have our idea of a dream home, but when you picture your dream home, WHERE do you picture it?

Preferred Builder
LEARN MORE

Preferred Builder

When it comes to selecting and financing your home, GECU’s Preferred Builders Program will help you find the right home. 

Home Inspection
READ

What To Know About Home Inspection

Home inspections are a very important part of the home buying experience. This lets both the buyer and seller know exactly what shape the house is in before you continue the process.

Mortgage Payments
READ

More Than Just A Mortgage Payment

Buying a home is one of the biggest purchases most people will ever make. When you purchase a home, there's more than just the monthly mortgage payment to consider.

What to look for in a home
READ MORE

What Do I Need To Take To Closing?

You're in the home stretch and closing day is coming up. This is the final step of the home buying process where you'll take possession of the keys to your new home.

Ready To Buy
WATCH

Ready To Buy A Home

Learn great tips like searching for a home, making an offer, finalizing your loans & understanding the closing process.

HOW MUCH CAN I AFFORD?

Use these calculators(2) to estimate rates and payments.

GET STARTED NOW

YOUR LENDING OPTIONS

We have a variety of loans to fit your lifestyle.

WELCOME HOME EL PASO

Down Payment Assistance(3)

GECU is offering the opportunity of a lifetime! Welcome Home El Paso is a down payment assistance program that makes homeownership a reality by offering up to 5% of the amount of your home loan in payment assistance. 

PREQUALIFY

Why Choose GECU?

FAQs

  • I’m ready to buy my own home, how much home can I afford?
    • As a general rule, you can usually purchase a home with a value of two to three times your annual household income. Depending on the amount of your savings and debts, you may qualify to purchase a home with a higher value.
  • Which mortgage loan is best for me?

    There are several things to consider when deciding which mortgage loan is best for you:

    • Your current financial position
    • How you anticipate your finances will change
    • How long you plan to live in your home
    • How much money you have available for a down payment
    • For questions about which mortgage loan will meet your needs, contact a GECU mortgage professional at 1-915-778-9221, toll-free at 1-800-772-4328.
  • What is an escrow account and how much will I need in my account?
    • The money in an escrow account is provided by the borrower to make payments to the lender for the purpose of paying taxes, insurance, and other payments associated with home ownership. The lender is responsible for the timely disbursement of escrow funds to pay the mortgage borrower’s property insurance and tax bills as they come due.
    • It’s common practice for mortgage companies to hold an escrow cushion for the borrower. The cushion is kept by the mortgage company to assure that if the cost of any escrowed item were to increase in the future, there would be sufficient funds to pay all property insurance and tax bills as they come due.
  • What's my first step in the home buying process?

    We recommend getting prequalified for your financing at the very beginning. Once you’re prequalified, you'll know exactly what price range you can afford and qualify for, including:

    • Standard loan guidelines
    • Estimated loan amount and monthly payment
    • Estimated loan costs
    • The mortgage best suited for you
    • Additional information needed to complete your mortgage application.
  • How often can I apply for a home equity loan?

    If you have a good credit record, Texas law allows qualified homeowners to obtain one home equity loan on the anniversary of closing your first home equity loan. Other conditions may apply.

  • Beside interest rates, what should I consider when applying for a mortgage loan?

    The term of your loan is also an important consideration. The loan term affects your monthly payment and how much you'll pay in interest payments (finance charges) over the life of the mortgage.

  • Will my credit history affect my ability to get a mortgage loan?
    • Unless you've experienced serious financial setbacks that affected your ability to repay your debts on time, you probably don't need to worry. It‘s a good idea to get a copy of your credit report before you begin the mortgage application process. If there are any errors on your credit history, you should resolve them before submitting your application.
    • If you've had credit problems in the past, be prepared to explain them with your mortgage lender at your first meeting. There are legitimate reasons for credit problems (layoff from job, illness, divorce, etc.), but as long as the problem has been corrected and the lender can see improvement, you may be steps closer in achieving your mortgage goal.
    • To request a free copy of your credit report, go to www.annualcreditreport.com
  • If I want to purchase a home outside of El Paso County, will I be eligible to apply for a mortgage loan?

    GECU’s lending radius is within 150 miles of El Paso County, all of Hudspeth County up to the international border not to include Mexico.

  • What is the equity in a home equity loan?

    Equity is the difference between your home's appraised/market value and the amount of any outstanding mortgage loan balance.

  • Can I apply for a GECU Home Equity Loan for my property in New Mexico?

    GECU’s lending radius is within 150 miles of El Paso County all of Hudspeth County, up to the international border not to include Mexico.

(1)All loans subject to credit qualification and approval. The property must be located in the United States, within a 150-mile radius of El Paso County, to include Hudspeth County. Certain fees and conditions apply. Membership-eligibility requirements apply.

(2) Information and interactive calculators are made available to you as self-help tools for your independent use and are used to quickly estimate the loan amount or monthly payment that fits your budget. This information is provided for illustrative purposes only. Rates are subject to change, and your loan terms may vary based on your individual circumstances.

(3)Assistance program is brought to you by the El Paso Housing Finance Corporation and is subject to qualification, income criteria and home purchase price. The residence must be located within the El Paso city limits. Other conditions apply.

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