Courtenay sits at the sweet spot where Vancouver Island’s natural playground meets practical small-city living. This isn’t your typical island retirement community—though plenty of folks do end up staying after discovering what the Comox Valley offers.
The numbers tell part of the story: 28,000 residents, steady 10% growth, and a 70% maximum LTV that reflects solid market fundamentals. But here’s what makes Courtenay different from other Island communities—it’s got the Canadian Forces Base Comox anchoring the economy while maintaining that laid-back coastal vibe that keeps people coming back.
The climate zone shifted from 7b to 8a over recent decades, meaning gardeners can now grow Mediterranean herbs year-round and golf courses stay green longer. That warming trend isn’t just nice for residents—it’s extending the tourism season and making the area more attractive to retirees fleeing harsher climates.
Half the housing stock consists of single-family homes, with apartments making up another 20%. The median age of 48.8 years reflects the retiree draw, but don’t mistake this for a sleepy town. CFB Comox brings younger military families, creating a demographic mix that supports everything from schools to restaurants.
The transition from resource-based to service economy shows in the employment numbers—retail and healthcare lead the way, followed by accommodation and food services. That 8.5% unemployment rate might look concerning until you realize many residents here have chosen lifestyle over maximum earning potential.
Courtenay’s secret weapon is location. You’re 20 minutes from Mount Washington’s ski slopes, walking distance to the Courtenay River, and close enough to Tofino for weekend surf trips. The Airpark hosts vintage aircraft displays that draw enthusiasts from across North America, while the downtown farmers market runs year-round thanks to that extended growing season.
For mortgage brokers, Courtenay represents stable equity with strong recreational appeal—the kind of place where property values hold steady because people genuinely want to live here, not just invest and flip.
Our Mortgage Products Available in Courtenay
| Mortgage Product Name | Max LTV | Key Notes for Courtenay |
|---|---|---|
| Construction Mortgages | 65.0% | Standard product terms |
| Variable Income | 70.0% | Standard product terms |
| Bare Land or Odd Properties | 70.0% | Standard product terms |
Detailed Mortgage Product Information
Construction Mortgages
Maximum Loan-to-Value (LTV) for Construction Mortgages in Courtenay:
65.0 %
*"Construction mortgages? Wait really? You guys will do them?"*
Simple answer, yes!!
We hear it all the time from brokers. The shock, the surprise, the cautious optimisim. But the good news is, yes, we are a MIC that will lend on construction mo...
Variable Income
Maximum Loan-to-Value (LTV) for Variable Income in Courtenay:
70.0 %
Banks and even Alt-A lenders have personal Line 150 (L15000) minimum debt servicing requirements. We don't. Instead, we understand that income can come from different places, or even just be left in a corporation. If we can be shown that mortgage ...
Bare Land or Odd Properties
Maximum Loan-to-Value (LTV) for Bare Land or Odd Properties in Courtenay:
70.0 %
We're willing to consider any and all properties located in our lending areas so long as the expected days on market makes sense against the loan to value. That means we'll consider true unserviced bare land, tree-forts, mobile homes with addition...