Lake Cowichan sits at the southern tip of the massive Cowichan Lake, the largest freshwater lake on Vancouver Island. This isn’t your typical small-town story — it’s a place where the lake creates its own microclimate, keeping things warmer than you’d expect for a mountain community. The result? A plant hardiness zone 8a that lets residents grow Mediterranean herbs and tender perennials that would freeze elsewhere on the island.
The demographics tell an interesting tale. With a median age of 52 and nearly 30% seniors, Lake Cowichan has become a magnet for people seeking that sweet spot between wilderness access and small-town amenities. The Cowichan River flows right through town, offering some of the best steelhead and salmon fishing on the island. Mountain bikers know the area for its extensive trail network, while the lake itself draws boaters and swimmers who appreciate having 32 kilometers of freshwater coastline practically to themselves.
Housing here is refreshingly straightforward — 78% single-family homes in a market where vacation properties and retirement homes create steady demand. The town’s proximity to Duncan (30 minutes) and Victoria (90 minutes) means you’re not completely cut off from urban conveniences, but you’re far enough away that real estate prices haven’t reached island-crazy levels.
The economy runs on a mix of retail, construction, and tourism, with enough diversity to weather seasonal fluctuations. Sure, the 9% unemployment rate reflects the rural reality, but it also means there’s room for growth as more people discover what locals have known for decades — this is one of the few places on Vancouver Island where you can afford waterfront living without selling a kidney.
Tekamar offers 65% maximum LTV in Lake Cowichan, recognizing the community’s solid fundamentals and the enduring appeal of lakefront living in BC’s warming climate.
the Nearest Costco
Nearest Hospital
Our Mortgage Products Available in Lake Cowichan
| Mortgage Product Name | Max LTV | Key Notes for Lake Cowichan |
|---|---|---|
| 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
Variable Income
Maximum Loan-to-Value (LTV) for Variable Income in Lake Cowichan:
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 Lake Cowichan:
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 Lake Cowichan:
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 Lake Cowichan:
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 Lake Cowichan:
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...