Clearwater sits at the gateway to Wells Gray Provincial Park, making it the unofficial basecamp for some of BC’s most spectacular wilderness. With over 200 waterfalls within the park boundaries, including the thundering Helmcken Falls that drops 141 meters into a canyon carved by ancient lava flows, this community has built its identity around being nature’s front door.
The town’s economy reflects this reality. Tourism and outdoor recreation drive much of the local business, with accommodation and food services employing over 11% of the workforce. Agriculture and forestry round out the economic picture, though the 14.6% unemployment rate tells the story of a resource-dependent community facing modern challenges. The median household income of $68,000 sits below provincial averages, but housing remains refreshingly affordable compared to BC’s urban centers.
What’s interesting about Clearwater is how it’s becoming a retirement destination despite its economic headwinds. Nearly 25% of residents are seniors, drawn by the outdoor lifestyle and lower cost of living. Single-detached homes make up 73% of the housing stock, perfect for those seeking space and privacy. The community’s proximity to Kamloops—just 90 minutes south—provides access to urban amenities while maintaining that small-town feel.
Tekamar lends in Clearwater with a maximum LTV of 55%, reflecting both the community’s economic vulnerabilities and its seasonal market dynamics. The conservative approach makes sense here: while the area attracts buyers seeking recreational properties and retirement homes, the limited local economy means recovery timelines could extend during market downturns. For brokers with clients who have substantial equity and understand rural BC markets, Clearwater offers opportunities where bigger lenders won’t venture.
The real appeal isn’t the numbers—it’s waking up to mountain views and having world-class hiking, fishing, and wildlife viewing minutes from your door.
the Nearest Costco
Our Mortgage Products Available in Clearwater
| Mortgage Product Name | Max LTV | Key Notes for Clearwater |
|---|---|---|
| Construction Mortgages | 55.0% | Standard product terms |
| 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 |
| Commercial | 55.0% | Standard product terms |
| Equity Lending | 55.0% | Standard product terms |
| Purchases | 55.0% | Standard product terms |
Detailed Mortgage Product Information
Construction Mortgages
Maximum Loan-to-Value (LTV) for Construction Mortgages in Clearwater:
55.0 %
“Wait, you’re a MIC that actually does construction?”
Here’s something that makes brokers do a double-take. Yes, we do construction mortgages. No, that’s not a typo.
But before you start sending us your client with the 580 credit score who wants to build their dream home, let’s be clear: these aren’t your typical MIC deals. We only do construction for bankable clients. People the banks would ...
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Clearwater:
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 Clearwater:
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 Clearwater:
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 Clearwater:
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...
Commercial
Maximum Loan-to-Value (LTV) for Commercial in Clearwater:
55.0 %
“We need a commercial mortgage, but we’re in Fort St. James…”
Here’s the thing about being a MIC that lends in tiny towns: sometimes commercial comes with the territory. The general store that’s been there since 1952. The six-plex that passes for high-density housing in Vanderhoof. The campground that’s also someone’s retirement plan.
We’re not going to pretend we love commercial lending. We ...
Equity Lending
Maximum Loan-to-Value (LTV) for Equity Lending in Clearwater:
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 Clearwater:
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...