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A picture of the City of Penticton.

Penticton

Lending guidelines for Penticton, British Columbia

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Max Loan To Value:
70%
Details
2021 Population
36,885
9.3% growth
Tim Hortons?
4 locations
Nearest Costco
67 km away
Has a Hospital?
Yep!
Stop Lights?
41 intersections (Show on Map)
Median Household Income
$68,000
Land Area
43.03 Km²
857.3 people/km²
Employment Rate
50.9%
Avg Commute
17 min

Penticton sits between two lakes like nature’s own mortgage security — water on both sides means limited developable land and steady property values. The city’s grown nearly 10% since 2016, but it’s not the usual urban sprawl driving things. This is Canada’s retirement magnet, where the median age hits 52 and nearly one-third of residents are 65-plus.

The housing mix tells the real story here. While 40% live in single-family homes, almost 30% choose apartments under five stories. That’s unusual for a city this size and speaks to Penticton’s appeal as a lifestyle destination rather than just another BC town. People downsize to move here, not upsize.

Tourism and healthcare anchor the economy, with retail filling the gaps. Sure, unemployment sits at 8.4%, but that’s partly seasonal tourism workers between gigs. The real economic engine is retirees spending pension dollars and vacation property owners who treat real estate like long-term savings accounts.

Penticton’s secret weapon is its “forever home” psychology. The city’s positioned between Okanagan and Skaha Lakes, creating a microclimate that’s warmed half a hardiness zone in recent decades. Translation: better growing conditions, more outdoor recreation days, and property that holds value because people genuinely want to stay.

For mortgage brokers, Penticton represents the sweet spot between urban amenities and small-town stability. Our 70% maximum LTV reflects the market’s liquidity — properties move quickly here because the lifestyle sells itself. Whether it’s debt consolidation for retirees managing fixed incomes or bridge financing for vacation property transitions, Penticton’s equity-rich market creates opportunities that work for everyone involved.

The city’s demographic shift toward older, established residents means less speculative buying and more equity-based transactions. That’s exactly where Tekamar’s lending products shine.

2021 Population
36,885
9.3% growth
Median Age
52
Tim Hortons Per 1000 People
0.11 (4 locations)
Driving Distance to
the Nearest Costco
1 hour 0 minutes
Hospitals Per 1000 People
0.03 (1 hospital in city limits)
Traffic Lights Per 1000 People
1.11 (41 intersections)
Median Household Income
$68,000
Land Area
43.03 Km²
857.3 people/km²
Employment Rate
50.9%
Avg Commute
17 min
Restaurants
57 restaurants 1.55 per 1000 people

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