• ATMs/Branches
  • Rates
  • Careers
  • Join Libro
  • Log in
  • to online banking
  • Home > personal banking > Mortgages > Reduce Your Costs
    image of happy family

    Options Reduce Costs

    Our mortgage options are more than just “bank talk” - they’re good ideas that we help you understand and use. We'll even support you when it comes to creating the budget that will make these ideas possible.

    • 20:20 Penalty-free prepayment option - pay up to 20% of the original balance on the mortgage anniversary to reduce interest costs. You can also boost your regular payment amount by up to 20% each year.
    • 120 Days interest rate protection - get pre-approved before you buy your home. We’ll guarantee your approved rate or the current rate (whichever is lower) when your deal closes.
    • Double-up payment - you can make extra complete payments on any regular payment day, and that comes directly off of your principal.
    • Portability - if you have to move before your mortgage term is up, there will be no penalty to transfer your existing mortgage as long as you mortgage your new home with Libro. We can increase your mortgage and blend your old and new rate. The mortgage balance and interest rate can move with you.
    • Payment options - tailor weekly, accelerated-weekly, bi-weekly, accelerated-bi-weekly semi-monthly or monthly payment options to your household cash flow and to lower your interest cost. We can match to your payroll day – and increase payment amount to create equity for future use!