Chilliwack

Chilliwack

We get calls about Chilliwack often, and the answer is always the same: we don’t lend here. Our maximum LTV in Chilliwack is 0.0%.

This isn’t a knock on the community. It’s a hard line for our fund. Tekamar’s mandate is to lend exclusively outside Greater Vancouver and the Fraser Valley. Chilliwack sits firmly in the latter, making it ineligible for our portfolio, regardless of the deal’s quality. Our investors—friends and family—rely on a clear geographic focus, and this is a boundary we don’t cross. While it’s a strong market, it’s not our market.

Frankly, Chilliwack doesn’t need a lender like us. The city is growing fast, with its population jumping 11.2% in the last census alone. It’s shed its old reputation as a sleepy farm town and become a major economic hub in the valley. The employment base is impressively diverse, with construction, healthcare, and retail all neck-and-neck as the top industries, so it isn’t reliant on a single sector. You see this local strength in the commute times: over 37% of residents get to work in less than 15 minutes. However, a median household income of $85,000 suggests that while the job market is stable, local purchasing power can be tight. The housing market is maturing, too. While single-detached homes still make up over half the stock, apartments and row houses now account for more than a third of all dwellings, catering to a wider demographic. It’s a market with enough depth and volume to keep A-lenders, credit unions, and larger MICs plenty busy.

Despite the rapid growth, Chilliwack has held on to its distinct identity. The lifestyle appeal here is a huge draw. People aren’t just moving for cheaper housing; they’re coming for the proximity to Cultus Lake, the endless parks, and the outdoor recreation. It’s a magnet for both young families and retirees, which you can see in the demographics—the city has an almost perfect balance of youth under 14 and seniors over 65, both at 19% of the population. The famously mild climate, a plant hardiness Zone 8b, adds to this appeal, especially for retirees and anyone with a green thumb. This strong lifestyle component gives the market an extra layer of resilience. Even in downturns, homes with this kind of appeal tend to sell quicker.

For brokers, the takeaway is simple. While Chilliwack has solid fundamentals—a growing population, a decent economic base, and undeniable lifestyle appeal—it falls outside our operational territory. We specialize in the markets that conventional lenders often overlook, from the Okanagan and Vancouver Island down to the small towns in the Kootenays. Chilliwack, for better or worse, is too connected to the Lower Mainland ecosystem for our niche. We’ll leave those deals to the lenders who play in that sandbox.