Let’s be clear about Grand Forks. This isn’t a bedroom community or a stopover town. It’s a self-contained community in the Boundary Country, and people who live here choose it for the lifestyle, drawn by the rivers and a climate that’s getting milder every decade. For brokers evaluating deals here, understanding the underlying economic realities is critical.
The economy is concentrated. While retail and healthcare are the largest employers by the numbers, the town’s economic engine is industrial—logging and manufacturing, like the Interfor and Roxul plants. This creates stability when things are good, but it also creates serious exposure. We all saw what happened when the Pope & Talbot mill shut down. The employment rate sits under 48%, which makes sense when you see that nearly 35% of the residents are 65 or older. With a median household income of just $61,600, there isn’t much of a cushion. That industrial concentration is the central risk we have to underwrite.
From a real estate perspective, the market directly reflects the demographics. The housing stock is overwhelmingly single-detached homes, making up over 75% of all dwellings. There isn’t a significant multi-family segment; apartments and row houses combined account for less than 18% of the stock. This makes sense for a town with a median age of 56. The strong lifestyle appeal, with easy access to Christina Lake and the Phoenix ski resort, brings in retirees and people looking for a quieter pace of life. This demographic provides a steady baseline of demand, but it also means the market isn’t driven by high-velocity job growth or a rapidly expanding population.
All this context informs our lending position. Grand Forks is a solid community where we are comfortable lending, but the economic fragility and the market’s limited depth require a conservative approach. In a foreclosure scenario, a smaller buyer pool and reliance on a few key industries can extend disposition timelines and increase carrying costs. To protect our investors’ principal—which is always our first priority—we have to underwrite for that worst-case scenario. That’s why our maximum loan-to-value in Grand Forks is 55.0%. It’s a figure that reflects both the community’s strengths and its inherent economic risks. We’re here for deals, but we’re doing them with our eyes wide open.
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Our Mortgage Products Available in Grand Forks
| Mortgage Product Name | Max LTV | Key Notes for Grand Forks |
|---|---|---|
| Credit Repair and Debt Consolidation | 55.0% | Standard product terms |
| Variable Income | 55.0% | Standard product terms |
| Bare Land and Unique Properties | 55.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 55.0% | Standard product terms |
| Equity Lending | 55.0% | Standard product terms |
| Purchases | 55.0% | Standard product terms |
Detailed Mortgage Product Information
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Grand Forks:
55.0 %
“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 Grand Forks:
55.0 %
“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 Grand Forks:
55.0 %
“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 Grand Forks:
55.0 %
“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 Grand Forks:
55.0 %
“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 Grand Forks:
55.0 %
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...