Lending in Fort St. James
Fort St. James is one of BC’s oldest European settlements, but its history doesn’t drive the modern economy. What drives our lending decisions is its geography. The town is isolated on the shores of Stuart Lake, a long drive from Prince George and not on the way to anywhere else. You have to be going there on purpose. That remoteness is a key factor in our risk assessment because it naturally limits the pool of potential buyers, especially when the local economy softens.
The town’s economy is exactly what you’d expect: resource-based. Forestry and manufacturing are the main engines, with healthcare and retail supporting the local population. While 65% of residents are of working age, the 9.6% unemployment rate is a major red flag. Paired with a 13.3% population decline since 2016, the data paints a clear picture of a shrinking market. There’s no significant tourism or retiree boom to cushion the town from a downturn in the resource sector. The housing stock is primarily single-detached homes, but with a shrinking population, demand is weak.
This economic reality is at the center of our lending position. In a small, remote market, a downturn doesn’t just mean a price correction; it can mean the market seizes up entirely. When the main industry slows down, people leave, and the buyer pool can evaporate. We have to underwrite for a worst-case scenario where a foreclosed property might sit vacant for a year or more. During that time, interest accrues, property taxes are due, and maintenance costs add up. A long liquidation timeline in a shrinking market can quickly erode equity, which is why our approach must be conservative.
As a result, our exposure in Fort St. James is capped at a maximum LTV of 45.0%.
We are comfortable in these northern resource towns—the “towns without stoplights” that larger lenders often overlook. But our involvement demands caution. The market fundamentals here are weaker than in larger centres, and the exit strategy is far less certain. Protecting our investors’ capital is the priority, and that requires a substantial equity buffer. Deals in Fort St. James need to be clean, with strong borrower character and, most importantly, extremely low leverage. If your client has significant equity and a straightforward file, we’re ready to look at it.
the Nearest Tim Hortons
the Nearest Costco
Our Mortgage Products Available in Fort St. James
| Mortgage Product Name | Max LTV | Key Notes for Fort St. James |
|---|---|---|
| Credit Repair and Debt Consolidation | 45.0% | Standard product terms |
| Variable Income | 45.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 45.0% | Standard product terms |
| Equity Lending | 45.0% | Standard product terms |
| Purchases | 45.0% | Standard product terms |
Detailed Mortgage Product Information
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Fort St. James:
45.0 %
“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 Fort St. James:
45.0 %
“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...
Bridge Financing/Fully Open Term
Maximum Loan-to-Value (LTV) for Bridge Financing/Fully Open Term in Fort St. James:
45.0 %
“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 Fort St. James:
45.0 %
“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 Fort St. James:
45.0 %
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...