Fernie isn’t just another Kootenay ski town. It’s an old-guard community, built on coal long before it was built on powder. As the largest town in the Elk Valley between Cranbrook and Lethbridge, it has a stability that smaller resort spots can’t match. The historic downtown, a relic of the early 20th-century mining boom, gives it a year-round character that pure ski villages lack. Even the climate is cooperating, with a significant warming trend creating longer, more reliable seasons for tourism. So while everyone talks about the world-class skiing and biking, we’re looking at the deeper, more complex economy rooted in resource extraction.
From a lending perspective, you have to look past the postcard photos and dig into the employment data. Mining still accounts for almost 17% of all jobs, making it the largest sector by a good margin. That’s a double-edged sword: it means high-paying jobs, but it also ties the local economy to volatile commodity prices. The good news is that tourism and hospitality are catching up at over 13%, providing a much-needed buffer. The number we keep a close eye on, however, is the 9.4% unemployment rate. That’s a flag for us; it tells us there’s some slack in the job market that we need to account for when assessing risk on a file.
The numbers on people and property look solid. Population growth is impressive, up over 17% since 2016, which tells you people want to be here. The median age is 38, so it’s not just a retirement community; it’s attracting working families who are putting down roots. Crucially, it’s an educated workforce, with over 73% having post-secondary credentials. That kind of human capital supports a more resilient local economy. This demand is focused on a housing market made up of over 62% single-detached homes. In a tight, land-constrained valley, that kind of housing stock is liquid and holds its value. We see consistent demand from both weekenders and full-time locals, which gives us confidence in the resale market and a clean exit on our loans.
When you put it all together, you get a market we know well. The lifestyle appeal and steady population growth create a solid floor for property values. But the economy still leans on the resource sector, and we keep a close eye on that 9.4% unemployment number. It’s a balance of clear strengths against manageable risks. We see good, secure deals to be made here for the right borrower and property.
Based on this balance, our maximum loan-to-value in Fernie is 65.0%.
the Nearest Costco
Our Mortgage Products Available in Fernie
| Mortgage Product Name | Max LTV | Key Notes for Fernie |
|---|---|---|
| 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/Fully Open Term | 65.0% | Standard product terms |
| Equity Lending | 65.0% | Standard product terms |
| Purchases | 65.0% | Standard product terms |
Detailed Mortgage Product Information
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Fernie:
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 Fernie:
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 Fernie:
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 Fernie:
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
Maximum Loan-to-Value (LTV) for Equity Lending in Fernie:
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 Fernie:
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...