First-Time Home Buyer

Libro makes owning your first home a reality. Get your home ownership started with a Libro Coach today.

What To Think About Before Buying Your First Home

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What are you wanting out of your home?

Are you looking for a fixer upper? Do you need a big backyard? What are you looking for in a home?

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How much can you afford?

With your income, living expenses, debts and down payment – how much can you afford? If you aren’t sure, check out our First Time Home Buyer Mortgage calculator.

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What is a down payment?

This is the amount of money you put towards the purchase of your home! It must be a minimum of 5% of the purchase price.

How does the stress test impact your qualification?

A stress test will ensure that you’re able to withstand rising interest rates.
The Government of Canada sets the regulations for mortgage qualifications.

Get settled in with a
high ratio mortgage

We can help get you into a house, make it a home, and stay with you as you grow into it and change.  Libro is your expert caring Credit Union, here as your lender, neighbour, advisor and community partner. 

Book a Meeting Today

Tax-Free First Home Savings Account

Libro is proud to offer this new account to help Canadians save for their first home with the help of tax breaks unlike any other product before. Use this combined approach to saving, like a TFSA + an RRSP, with the added benefit of a Coach in your corner.


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Government Incentives

The Government of Canada has put programs in place to support first-time home buyers and help Canadians get into their first home. Check out the resources below for more information or contact a Libro Coach to find out if one of these programs will work well for you!

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First Home Savings Account

A new type of registered account for savings or investments, to save up to $40,000 for your first home.

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First-Time Home Buyer Incentive

The program offers 5 or 10% of the home’s purchase price to put toward a down payment.

Go to Resource
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GST/HST New Housing Rebate

This rebate allows an individual to recover some of the tax paid for a new or substantially renovated house

Go to Resource
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Home Buyer’s Plan

This program allows you to withdraw from your registered retirement savings plans to buy a home.

Go to Resource

More reasons to get a mortgage with us

When you bank local, you support local

In 2022, Libro reinvested $1.35 million back into our community.

Libro invests 100% of profits back into the people, businesses and communities we serve. When you choose to bank local, you are helping our local economy thrive.

Libro is proud to be a Certified B Corporation, joining leaders of a global movement of people using business as a force for good. B Corp certification aligns with our business model and Prosperity Purpose, helps us to be transparent and allows Libro to help bring awareness to the global movement of businesses working to solve social and environmental challenges.

Local Impact

As a Libro Owner, you’re part of a larger purpose of helping to grow prosperity right here in southwestern Ontario. We deliver on that Purpose by helping people in the region be financially resilient, adequately, safely, and affordably housed, meaningfully employed and food secure. We use our entire operation, resources, and influence to be a positive force in society.

One of the ways we support people in our communities is by funding initiatives aligned with our pillars and supporting students through scholarships. Every year we invest over 1.3 million dollars into our communities through grants, sponsorships, donations, student awards, and our strategic partnerships.

Business For Good

Libro is proud to be a certified B Corporation®, we’re counted among businesses that are leading a global movement for an inclusive, equitable, and regenerative economy.

Expert Coaching

Financial coaching is one important way Libro is different from banks. Every Owner at Libro gets their very own Coach — a financial expert who cares about you and your success. Your Coach gets to know you and your situation and always offers personalized financial advice to help you reach your goals.

*On Approved Credit (OAC), rates are product-specific and may change without notice. The stated rate of 5.09% per annum applies to a closed, fixed, five-year term high-ratio mortgage, offered to Libro Owners with a down payment of less than 20%, provided they are eligible and opt to purchase mortgage default insurance, while meeting other conditions. Visit and for details.