Lending in Prince George
Prince George is called BC’s Northern Capital for a reason. This isn’t just a stopover town; it’s the undisputed economic and service hub for the entire northern half of the province. When we look at a lending market, we want to see a clear, functional identity, and Prince George has it. It’s not a speculative resort town or a bedroom community for a bigger city. It’s a self-contained city with a stable population of over 76,000, built to support the industries and people of the North. All the major highways meet here, and it’s the center for government services, healthcare, and distribution for a massive geographic area.
The economy has deep roots in forestry, and that history is still part of the city’s character. But the employment numbers tell a more modern, diversified story. Today, healthcare and social assistance form the largest employment sector, followed by retail, construction, and education—driven by the University of Northern British Columbia. That mix provides a level of stability you don’t always find in a northern city. We’re not blind to the risks, though. The unemployment rate sits at 9.4%, and the volatility of the resource sector is a real factor we price into every deal. This isn’t the Okanagan; the economic swings can be sharp and recovery can be slow.
The housing market reflects the city’s no-nonsense character. Just over 58% of the housing stock consists of single-detached homes, and it’s overwhelmingly a primary residence market. You don’t see the seasonal vacation demand that creates price bubbles and risk in other parts of BC. People buy homes here to live in them. With an average commute time of only 18 minutes, it’s clear this is a community built for living, not just for outside investment. While detached homes dominate, there’s also a healthy mix of townhouses and low-rise apartments that provide options for different buyers. It’s this focus on stable, owner-occupied housing that makes Prince George a viable, if conservative, market for us.
From a lending perspective, Prince George is a balanced file. Its role as the regional hub for government, education, and healthcare provides a solid economic floor, insulating it from the worst of the resource sector’s boom-and-bust cycles. At the same time, we have to be realistic. Its northern location means a smaller buyer pool and a longer timeline for recovery in a foreclosure scenario. We’re comfortable lending here, but this reality dictates our risk appetite. That’s why our maximum LTV in Prince George is 65.0%. This buffer protects our investors’ capital against potential market softness or the longer carrying costs of a sale.
We see Prince George for exactly what it is: the functional, working-class core of northern British Columbia. It’s not flashy, but it’s essential. We are open for business here and are looking for sensible deals with the local homeowners who actually live and work in the city.
Our Mortgage Products Available in Prince George
| Mortgage Product Name | Max LTV | Key Notes for Prince George |
|---|---|---|
| Credit Repair and Debt Consolidation | 65.0% | Standard product terms |
| 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
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Prince George:
65.0 %
“Their credit report reads like a horror novel, but the house was just renovated and is worth a lot…”
Here’s what happens when life takes a wrong turn. A bad business venture. Workplace Injury. That divorce that dragged on for two years. Suddenly your credit score looks like a batting average and the banks won’t even return your calls.
But here’s the thing – none of that changes what your ho...
Variable Income
Maximum Loan-to-Value (LTV) for Variable Income in Prince George:
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 Prince George:
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 Prince George:
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 Prince George:
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 Prince George:
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...