Clearwater

Clearwater sits at the edge of one of Canada’s most spectacular wilderness areas, where Wells Gray Provincial Park’s 200 waterfalls and pristine backcountry create a magnet for outdoor enthusiasts year-round. This isn’t your typical tourist town though — it’s evolved into something more interesting.

The community has become a strategic basecamp for serious adventurers and retirees seeking affordable mountain living without sacrificing access to world-class recreation. With 72.6% single-detached homes and a median age of 48.4 years, Clearwater attracts buyers who understand the value of space and natural beauty over urban convenience.

Here’s what makes the lending landscape unique: the tourism economy creates distinct seasonal patterns that traditional lenders often misunderstand. Accommodation and food services employ 11.1% of residents, while retail trade leads at 12.6%. These aren’t necessarily red flags — they’re indicators of a community that’s learned to thrive on what it does best.

The 14.6% unemployment rate tells only part of the story. Many residents operate seasonal businesses, guide services, or work in forestry with income patterns that don’t fit conventional lending boxes. That’s exactly where alternative financing becomes essential.

Wells Gray’s designation as a proposed Dark Sky Preserve adds another dimension — this area is positioning itself for astro-tourism and specialized outdoor experiences that could drive property values in unexpected ways. The park’s 5,250 square kilometers of wilderness ensures development pressure stays manageable while maintaining the area’s core appeal.

For mortgage brokers, Clearwater represents opportunities with clients who have equity but non-traditional income streams. Our 55% maximum LTV reflects the community’s smaller market size while recognizing the underlying value in recreational properties and homes serving the outdoor tourism sector.

The agricultural component (10.6% employment) provides economic stability that pure tourism towns lack, creating a more balanced foundation for lending decisions.