Comox
Lending guidelines for Comox, British Columbia
Last reviewed by Tekamar Mortgage Fund on
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Comox is a stable Vancouver Island lifestyle hub where we'll lend up to 65.0% LTV. The market isn't reliant on volatile local resource jobs; instead, it's driven by equity-rich retirees cashing out of major cities. That gives you highly predictable property values and steady demand.
Comox Residential Mortgages
Comox is the quiet, high-end residential pocket of the Comox Valley. While Courtenay handles the big-box retail and commercial heavy lifting, Comox is basically a premium coastal suburb. The local economy runs on two steady engines: military personnel cycling through CFB Comox, and retirees cashing out of the Lower Mainland for mild winters and ocean views. For a mortgage broker, that means a local real estate market with a highly stable, predictable rhythm.
The demographic numbers show exactly who is buying here. The median age is 52, and nearly a third of the town is over 65. That keeps the official employment rate just under 50 percent, at 49.0%, but don’t mistake that for economic weakness. The cash flowing through Comox is remarkably stable, anchored by healthcare professionals, public administration, and solid pensions. Add in the Comox Valley Airport connecting residents directly to Alberta, and you have an insulated local economy that we rate a 6 out of 10 on our internal economic score.
As for the housing stock, you’re looking at a traditional, low-density market. Roughly 66% of the properties are single-detached homes, many carrying high waterfront premiums. Because Comox sits on a peninsula, the ocean limits how much land is actually buildable. This geographic boundary, combined with steady demand from relocating families and downsizers, keeps property values stable. There is genuine scarcity here, which keeps average days on market low and gives us a reliable exit if a file ever goes sideways.
At Tekamar, we call ourselves the MIC for towns without stoplights. Comox might have a couple of lights, but as a lender focused outside Greater Vancouver and the Fraser Valley, this is exactly the kind of market we target. We pool private capital from friends and family, so keeping that money safe is what drives every underwriting decision we make. We look hard at foreclosure timelines and average sale times before committing funds. In Comox, the underlying fundamentals give us real confidence that we can recover our capital in a worst-case scenario. We rate the town a 10 out of 10 for overall desirability, and because properties sell quickly here, our maximum LTV in Comox is 65%.
If you have clients buying into the Comox lifestyle, we’re here to look at the deals the major banks pass on. Whether your borrower needs a straightforward bridge loan while moving into a retirement property, an equity-based second mortgage, or a debt consolidation lifeline, Comox fits perfectly in our wheelhouse. It’s a premium, structurally sound market, and we’re ready to write deals here for the right files.
Frequently Asked Questions
Our max LTV is capped at 65.0%. It's a highly stable, mature market, but because it is driven by retirement equity rather than high local incomes, we keep our leverage conservative.
The local economy is anchored by stable sectors like healthcare and public admin rather than volatile resources. This boring-but-stable economic base makes it very easy for us to approve deals because property values are secure.
We will pass on speculative builds, house flips, or highly unusual housing types. We want solid, traditional residential housing—ideally single-family detached homes—for buyers putting down real roots.
Our Mortgage Products Available in Comox
| Mortgage Product Name | Max LTV | Key Notes for Comox |
|---|---|---|
| Construction Mortgages | 57.0% | Standard product terms |
| Credit Repair and Debt Consolidation | 65.0% | Standard product terms |
| Variable Income | 65.0% | Standard product terms |
| Bare Land and Unique Properties | 65.0% | Standard product terms |
| Bridge Financing | 65.0% | Standard product terms |
| Equity Lending / Refinance | 65.0% | Standard product terms |
| Purchases | 65.0% | Standard product terms |
Detailed Mortgage Product Information
Construction Mortgages
Maximum Loan-to-Value (LTV) for Construction Mortgages in Comox:
57.0 %
“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 Comox:
65.0 %
“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 Comox:
65.0 %
“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 Comox:
65.0 %
“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
Maximum Loan-to-Value (LTV) for Bridge Financing in Comox:
65.0 %
“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 / Refinance
Maximum Loan-to-Value (LTV) for Equity Lending / Refinance in Comox:
65.0 %
“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 Comox:
65.0 %
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...