Lake Cowichan

When you think of small-town British Columbia, Lake Cowichan might not be the first name that pops into your head. But let me tell you, this little gem on Vancouver Island, tucked near the stunning Cowichan River, has a charm and potential that’s hard to ignore. With a population just over 3,000, it’s a tight-knit community with a big personality, offering a lifestyle that draws retirees, vacation home buyers, and folks looking for a quieter pace. For mortgage brokers and borrowers alike, this town represents a unique opportunity in a market that’s often overlooked by bigger lenders.

What sets Lake Cowichan apart? It’s not just the warm climate—boasting a Plant Hardiness Zone of 8a, perfect for gardening enthusiasts—but the access to nature that feels like a daily vacation. Think fishing, kayaking, and hiking right at your doorstep, with the Cowichan River as your playground and spots like Honeymoon Bay adding a touch of local flavor. This isn’t just a pretty postcard; it’s a lifestyle that sells properties. For brokers, that means pitching a dream to clients who want equity lending for a cabin or retirement spot. For borrowers, it’s a chance to own a slice of paradise, even if traditional banks have said no due to income or credit hurdles.

From a real estate and lending perspective, Lake Cowichan’s housing market leans heavily on single-detached homes—over 78% of dwellings—which tells you this is a place for families and retirees, not high-rise investors. That’s where Tekamar Mortgage Fund comes in. We’re not like most MICs in BC who stick to Vancouver or the Fraser Valley. Our niche is towns like this one, where other lenders hesitate. We’ll lend where others won’t, with a maximum loan-to-value (LTV) of 65% in Lake Cowichan. That’s not a guarantee—every deal’s assessed for risk, especially on trickier files like bare land or second mortgages—but it shows we’re open to helping. Brokers, if you’ve got a client with a solid equity position, give us a call. Borrowers, if you’ve got a vision for a property here but can’t qualify under strict bank rules, we might be your lifeline.

Let’s talk economics for a sec. The town’s median household income sits around $68,000, and unemployment hovers at 9%. It’s not a booming metropolis, and industries like retail and tourism drive the local economy. That means some risk for lenders, sure, but also opportunity for savvy brokers and borrowers. Properties here often appeal to seasonal buyers or those wanting a slower life, which can mean a longer sales cycle if things go south. At Tekamar, we factor that into our decisions, ensuring a clear exit strategy—think refinance potential down the line—to protect our investors’ capital, sourced entirely from friends and family.

Why should you care about Lake Cowichan? Because it’s a microcosm of what makes small-town BC special: affordability, lifestyle, and untapped potential. Whether you’re a broker hunting for a lender who gets these markets, or a borrower dreaming of a riverside retreat, we’re here to make deals happen. Tekamar’s been at this for over 20 years, and our tagline says it all: “Your MIC for towns without stop lights.” Got a deal in mind? Let’s chat.