Campbell River
Campbell River isn’t a resort town and doesn’t pretend to be. It’s a working coastal community on Vancouver Island, built on fishing and forestry. It calls itself the “Salmon Capital of the World,” and that identity is tied to the resource industries and the local First Nations—the Weiwaikum and We Wai Kai—who have been central to the area’s economy for centuries. This isn’t a place for speculative vacation condos. It’s a hub for people who work on the water and in the woods, along with a growing number of retirees drawn by the no-nonsense, outdoor lifestyle.
From our perspective as a lender, you have to look at the economics here with both eyes open. The numbers show healthcare and retail as the top employers, giving the town a solid base. But resource industries like forestry and fishing are still a big piece of the pie, and that means volatility. The local unemployment rate is 8.7%, a number we watch closely. One of the key stabilizing factors is the economic development from local First Nations. Their commercial partnerships, like the Discovery Harbour Centre, are a major anchor for downtown and the waterfront.
The housing market is just as practical. Over 60% of the homes are single-detached houses, and the market runs on local demand, not tourism. The demographics are what really catch our attention. The median age is 48, and more than a quarter of the population is over 65. That means a steady stream of equity-rich buyers moving in to retire. This creates a solid floor under property values and gives us a reliable exit strategy, even in a down market. Demand here is from people who want to live here full-time, which protects it from the boom-and-bust cycles you see in resort towns.
We see Campbell River as a solid, predictable market, and we’re comfortable lending here. The lifestyle isn’t a fad; it creates real, long-term demand for housing. That said, the reliance on resource industries and the 8.7% unemployment rate are risks we have to price in. So we take a balanced, and frankly, conservative approach. It’s a community we know well and are active in. Our maximum LTV for Campbell River is 65.0%. We’re happy to look at deals here all day, as long as they line up with the market’s realities.
the Nearest Costco
Our Mortgage Products Available in Campbell River
| Mortgage Product Name | Max LTV | Key Notes for Campbell River |
|---|---|---|
| Credit Repair and Debt Consolidation | 65.0% | Standard product terms |
| Variable Income | 65.0% | Standard product terms |
| Bare Land and Unique Properties | 65.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 65.0% | Standard product terms |
| Equity Lending | 65.0% | Standard product terms |
| Purchases | 65.0% | Standard product terms |
Detailed Mortgage Product Information
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Campbell River:
65.0 %
“Their credit report reads like a horror novel, but the house was just renovated and is worth a lot…”
Here’s what happens when life takes a wrong turn. A bad business venture. Workplace Injury. That divorce that dragged on for two years. Suddenly your credit score looks like a batting average and the banks won’t even return your calls.
But here’s the thing – none of that changes what your ho...
Variable Income
Maximum Loan-to-Value (LTV) for Variable Income in Campbell River:
65.0 %
“Their income is all over the map, but there’s definitely income…”
Here’s a funny thing about lending based on Line 15000 of your Notice of Assessment: It’s a neat little box to underwrite against. Works great if you’re a salaried employee. Not so great if you’re running a fishing charter in Campbell River where thres fishing season, and the rest of the year.
We get it. Income isn’t always ti...
Bare Land and Unique Properties
Maximum Loan-to-Value (LTV) for Bare Land and Unique Properties in Campbell River:
65.0 %
“The appraisal came back as ‘property type: other’…”
Here’s a truth about real estate that nobody wants to admit: not everything fits in a box. Banks have boxes. Nice, tidy boxes labeled “single family home” and “condo” and “townhouse.” Their computer systems literally don’t have a dropdown menu option for “converted church with commercial kitchen” or “geodesic dome on 40 acres.”
We’ve funded...
Bridge Financing/Fully Open Term
Maximum Loan-to-Value (LTV) for Bridge Financing/Fully Open Term in Campbell River:
65.0 %
“Subjects came off their current home last week but their new place closes Friday…”
Here’s a funny thing about bridge financing: everyone thinks it’s complicated. It’s not. Someone needs to close on their new house before their old house sells. Or their sale fell through after they removed subjects on their dream home. Or they found the perfect downsizer condo but haven’t listed the family hom...
Equity Lending
Maximum Loan-to-Value (LTV) for Equity Lending in Campbell River:
65.0 %
“They have tons of equity but don’t qualify under B20…”
Here’s the thing about equity lending: it exists because banks literally can’t do it. B20 guidelines require income verification. Full stop. No wiggle room. No common sense exceptions.
We’re provincially regulated. The funds we lend on come from individual investors, not the Bank of Canada. So when your client has 50% equity but their in...
Purchases
Maximum Loan-to-Value (LTV) for Purchases in Campbell River:
65.0 %
Moving is supposed to be exciting. New town, new job, new chapter. So why do banks act like you’re asking for their firstborn when you need a mortgage?
“You haven’t been at your new job for thre months”
“Your self-employment income doesn’t count in a new market.”
“We need to see established a year if you are part time contract - even if you’re working 40 hours under your new role”
Meanwhile...