Courtenay is the commercial and cultural centre of the Comox Valley. With a city population pushing 30,000 and a regional draw of over 70,000, it’s the valley’s main urban hub. This isn’t a sleepy vacation town; it’s where people in the valley go for services, shopping, and healthcare. The city sits on the Unceded Traditional Territory of the K’ómoks First Nation, a fact that’s not just a footnote on a plaque but is woven into the community’s governance and cultural planning. This gives the area a grounded, distinct identity you don’t find everywhere.
From a lending perspective, the key demographic here is retirees. With a median age of 48.8 and over 28% of the population aged 65 or older, the market is heavily influenced by downsizers and equity-rich buyers from elsewhere in BC. They’re drawn by the mild climate—a legitimate Zone 8a—and the lifestyle. This creates a stable and predictable demand for housing. In a downturn, you still have a steady inflow of buyers cashing out of more expensive markets. That consistent demand underpins asset values, which is a critical factor in our risk assessment. People move here for a reason, and that reason doesn’t disappear when the market gets choppy.
The economy has largely transitioned away from its resource-based past. Today, the top employers are in retail, healthcare, and public administration. The real anchor, and the one we pay close attention to, is Canadian Forces Base Comox. It provides a non-cyclical employment base that insulates the local economy from the worst of private-sector downturns. That said, we’re clear-eyed about the challenges. The median household income of $72,000 and an unemployment rate of 8.5% point to some fragility. It’s a service economy, and not everyone is a high-earning government employee. We factor this into our underwriting on a deal-by-deal basis.
The housing stock is exactly what you’d expect—over half is single-detached homes, with a growing mix of townhomes and low-rise condos. It’s a market we understand well. For Tekamar, Courtenay is the kind of balanced community we like to lend in. The fundamentals are solid, driven by lifestyle and a stable public-sector employer, not speculation. We see consistent demand and a clear exit strategy. This is why Courtenay is one of the stronger markets in our portfolio, where we will lend up to a maximum of 70% LTV on qualified properties. We know the area, we understand the drivers, and we’re actively looking at deals here.
Our Mortgage Products Available in Courtenay
| Mortgage Product Name | Max LTV | Key Notes for Courtenay |
|---|---|---|
| Credit Repair and Debt Consolidation | 65.0% | Standard product terms |
| Variable Income | 70.0% | Standard product terms |
| Bare Land and Unique Properties | 65.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 70.0% | Standard product terms |
| Equity Lending | 70.0% | Standard product terms |
| Purchases | 70.0% | Standard product terms |
Detailed Mortgage Product Information
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Courtenay:
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 Courtenay:
70.0 %
“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 Courtenay:
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/Fully Open Term
Maximum Loan-to-Value (LTV) for Bridge Financing/Fully Open Term in Courtenay:
70.0 %
“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
Maximum Loan-to-Value (LTV) for Equity Lending in Courtenay:
70.0 %
“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 Courtenay:
70.0 %
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...