Osoyoos

Canada’s warmest lake creates something unusual in the mortgage lending world — a retirement magnet that actually works. Osoyoos sits at the bottom of the Okanagan Valley where the thermometer regularly hits 40°C and the lake stays swimmable well into September. While most small BC towns struggle with aging populations, this desert oasis has turned demographics into an advantage.

The numbers tell the story: nearly half the population is over 65, yet property values hold steady because people want to retire here. Those equity-rich retirees from Vancouver and Calgary aren’t just buying vacation homes — they’re cashing out expensive city properties and making Osoyoos their permanent base. When your borrowers own million-dollar homes elsewhere and want to downsize to a $600,000 lakefront property, the lending equation gets interesting.

Tekamar offers a 65% maximum LTV here, recognizing that while the local job market might look concerning on paper, the underlying demand drivers are rock solid. You can’t manufacture Canada’s only true desert climate or move Osoyoos Lake somewhere else. The wineries, golf courses, and cross-border shopping with Washington State create multiple tourism streams that keep the economy humming beyond just summer months.

The seasonal nature that scares some lenders actually creates opportunity. Snowbirds from Alberta park their RVs here for months, vacation rental demand stays strong, and the proximity to Penticton (45 minutes) means residents aren’t completely isolated from urban amenities. When your worst-case scenario involves foreclosing on lakefront property in Canada’s hottest, driest climate, you’re not exactly facing a disaster.

For brokers working with clients who’ve built equity elsewhere and want to stretch it further, Osoyoos delivers the lifestyle upgrade that makes financial sense.