Canal Flats sits where the Columbia and Kootenay Rivers nearly touch, creating one of the most unusual geographic features in British Columbia. This tiny community of 802 people occupies the narrow strip of land between two major waterways, earning its name from a historic canal that once connected them in the early 1900s.
The numbers tell an interesting story about this East Kootenay village. With a median age of 49.2 years and nearly a quarter of residents over 65, Canal Flats has become a magnet for those seeking small-town retirement living. The 20% population growth since 2016 suggests people are discovering what locals already know—this place offers something special.
Housing here skews heavily toward single-detached homes at 79%, with a surprising 11% in movable dwellings, reflecting both the rural character and the practical approach residents take to mountain living. The accommodation and food services sector leads employment at 17.3%, followed by construction at 13.6%, hinting at both tourism potential and ongoing development activity.
What makes Canal Flats particularly intriguing is its position as a gateway to outdoor recreation. The community sits within easy reach of multiple provincial parks, ski hills, and the famous Columbia River wetlands. River rafting, fishing, and hiking draw visitors year-round, while the small-town atmosphere keeps them coming back.
The climate has been warming—improving by half a hardiness zone in recent decades—making the area more appealing for both agriculture and year-round living. This shift, combined with the natural beauty and recreational access, creates a compelling case for property investment in a market that many overlook.
Tekamar offers equity-based lending, second mortgages, and debt consolidation products in Canal Flats with a maximum 55% LTV. For brokers working with clients who’ve discovered this hidden corner of the Kootenays, we understand the unique appeal of river valley living and the borrowing needs that come with it.
the Nearest Tim Hortons
the Nearest Costco
Nearest Hospital
Our Mortgage Products Available in Canal Flats
| Mortgage Product Name | Max LTV | Key Notes for Canal Flats |
|---|---|---|
| Credit Repair and Debt Consolidation | 55.0% | Standard product terms |
| Variable Income | 55.0% | Standard product terms |
| Bare Land and Unique Properties | 55.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 55.0% | Standard product terms |
| Equity Lending | 55.0% | Standard product terms |
| Purchases | 55.0% | Standard product terms |
Detailed Mortgage Product Information
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Canal Flats:
55.0 %
“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 Canal Flats:
55.0 %
“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 Canal Flats:
55.0 %
“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 Canal Flats:
55.0 %
“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 Canal Flats:
55.0 %
“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 Canal Flats:
55.0 %
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...