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A picture of the City of Greenwood.

Greenwood

Lending guidelines for Greenwood, British Columbia

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Max Loan To Value:
55%
Details
2021 Population
702
5.6% growth
Tim Hortons?
1 location
Nearest Costco
162 km away
Nearest Hospital
16.6 km away
Median Household Income
$47,000
Land Area
2.42 Km²
290.2 people/km²
Employment Rate
23.3%
Avg Commute
24 min

Greenwood holds the distinction of being Canada’s smallest incorporated city, a title that perfectly captures its character — officially urban but unmistakably small-town in every way that matters. With just over 700 residents spread across 2.42 square kilometers, this former copper mining boomtown has transformed into something quite different from its raucous early 1900s heyday when it boasted 28 hotels and a population of 3,000.

The numbers tell an interesting story about modern Greenwood. Nearly 19% of homes are movable dwellings, suggesting a community where flexibility matters more than permanence. The median age of 61.6 years reflects a population that’s found peace in this mountain setting, though it also signals economic realities that younger families face elsewhere.

Tekamar offers mortgage products in Greenwood with a maximum 55% loan-to-value ratio. This conservative approach reflects both the community’s remote location and economic challenges, including an 18.9% unemployment rate that speaks to limited local opportunities beyond construction and manufacturing.

What makes Greenwood compelling isn’t its economic prospects — it’s the appeal to those seeking authentic small-town living without pretense. The city sits in the Boundary Country, surrounded by mountains and mining history, attracting retirees and others who value community connection over career advancement. Property values remain accessible, and for borrowers needing equity-based financing or debt consolidation, Greenwood represents the kind of place where a fresh financial start actually feels possible.

The climate has warmed significantly over recent decades, improving growing conditions and making year-round living more comfortable. For mortgage brokers, Greenwood clients often need creative financing solutions — second mortgages, bridge loans, or equity access for property improvements that other lenders won’t touch in such a small market.

2021 Population
702
5.6% growth
Median Age
61
Tim Hortons Per 1000 People
1.42 (1 location)
Driving Distance to
the Nearest Costco
1 hour 53 minutes
Driving Time to
Nearest Hospital
29 minutes
Median Household Income
$47,000
Land Area
2.42 Km²
290.2 people/km²
Employment Rate
23.3%
Avg Commute
24 min
Restaurants
5 restaurants 7.12 per 1000 people

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