Chase

Lending in Chase, BC

Brokers need to see Chase for what it is: a classic BC Interior town, not just a gas stop on the Trans-Canada between Kamloops and Salmon Arm. This is a self-contained community with its own economy, serving the surrounding rural areas and First Nations communities from its spot at the outlet of Little Shuswap Lake. The local identity is tied to two things: agriculture—specifically corn—and the lake. That’s not just flavour text; it means there’s a strong, season-driven rhythm that supports a stable, if modest, local economy based on retail and construction.

The lifestyle draw has a direct impact on property values, which is a key factor in our lending decisions. People choose Chase for a quieter, more affordable version of the Shuswap lifestyle. It has the required boat launches, golf course, and trail networks that attract young families and an outsized number of retirees. This consistent demand creates a floor for property values. Unlike a pure resource town, there’s an enduring appeal here that provides market stability. We see steady, predictable resale potential in the single-family homes that make up about 75% of the housing stock.

However, the postcard version doesn’t tell the whole story from a lender’s perspective. The economic fundamentals require a disciplined approach. With a median age of nearly 60 and almost 40% of the population over 65, the demographic is heavily weighted towards seniors. The median household income is low at $60,400, and the unemployment rate sits at a stubbornly high 9.4%. This profile signals potential vulnerability. While tourism and local services provide a base, the economy isn’t dynamic enough to absorb major shocks, and we factor that risk into every file we consider.

This is precisely why our maximum LTV in Chase is 60.0%. We’re comfortable with the market and see good opportunities for equity-based loans, but the economic indicators demand a conservative position. That LTV gives us the necessary buffer to account for the town’s vulnerabilities while still allowing us to fund solid deals for borrowers who have equity but might not fit a prime lender’s rigid income or credit requirements.

The village itself is geographically constrained, which limits sprawl and helps stabilize the core real estate market. We’re open to deals in Chase for bridge financing, debt consolidations, or second mortgages. We just need to see a clear exit strategy and sufficient equity to protect our investors. If you have a file on a standard residential property with a sensible plan, we’re ready to look at it.