Standard Product Info: ## "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."...
Max Loan To Value:
70%
Details
2021 Population
19,432
9.7% growth
Tim Hortons?
3 locations
Nearest Costco
113 km
away
Has a Hospital?
Yep!
Stop Lights?
9 intersections
(
Show on Map
)
Median Household Income
$75,000
Land Area
155.19 Km²
125.2 people/km²
Employment Rate
52.5%
Avg Commute
17 min
Salmon Arm sits at the heart of the Shuswap region where the lake stretches out like a giant’s arms, creating over 400 kilometers of pristine shoreline. This isn’t your typical retirement town that shuts down after Labour Day — it’s a four-season playground that attracts everyone from tech workers seeking lakefront offices to retirees who want more than just bingo nights.
The housing market here tells an interesting story. With 62% single-detached homes and a median age pushing 52, you’re looking at established homeowners who’ve built real equity over time. That’s music to a lender’s ears, especially when properties here don’t just hold value — they’re genuinely desirable. The Shuswap’s reputation for houseboating, world-class salmon runs, and year-round recreation means there’s always someone wanting to buy in.
What sets Salmon Arm apart is its economic sweet spot. You’ve got the stability of healthcare and education jobs mixed with the seasonal boost from tourism and recreation. The construction sector’s strong presence reflects ongoing development, while retail thrives thanks to the steady flow of visitors and seasonal residents. It’s not boom-or-bust economics — it’s steady, predictable growth.
The community’s secret weapon is its infrastructure. Silver Star and Sun Peaks are close enough for weekend skiing, while Kamloops and Kelowna provide urban amenities within driving distance. This connectivity means properties here aren’t isolated investments — they’re part of a broader regional economy that’s been quietly growing for decades.
For mortgage professionals, Salmon Arm represents the kind of market where 70% LTV makes perfect sense. Properties move within 3-4 months when they hit the market, and the lifestyle appeal ensures there’s always demand. Whether it’s a debt consolidation for someone leveraging their lake property equity or a bridge loan for buyers wanting to secure their piece of Shuswap paradise, the fundamentals here are rock solid.
2021 Population
19,432
9.7% growth
Median Age
51
Tim Hortons Per 1000 People
0.15
(3 locations)
Driving Distance to
the Nearest Costco
the Nearest Costco
1 hour 19 minutes
Hospitals Per 1000 People
0.05
(1 hospital in city limits)
Traffic Lights Per 1000 People
0.46
(
9 intersections
)
Median Household Income
$75,000
Land Area
155.19 Km²
125.2 people/km²
Employment Rate
52.5%
Avg Commute
17 min
Restaurants
45 restaurants
2.32
per 1000 people
Our Mortgage Products Available in Salmon Arm
| Mortgage Product Name | Max LTV | Key Notes for Salmon Arm |
|---|---|---|
| Construction Mortgages | 65.0% | Standard product terms |
| Credit Repair and Debt Consolidation | 65.0% | Standard product terms |
| Variable Income | 70.0% | Standard product terms |
| Bare Land and Unique Properties | 65.0 % | Special LTV for this community |
| Bridge Financing/Fully Open Term | 70.0% | Standard product terms |
| Commercial | 55.0 % | Special LTV for this community |
| Development/Subdivisions | 50.0% | Standard product terms |
| Equity Lending | 70.0% | Standard product terms |
| Purchases | 70.0% | Standard product terms |
Detailed Mortgage Product Information
Construction Mortgages
Maximum Loan-to-Value (LTV) for Construction Mortgages in Salmon Arm:
65.0 %
“Wait, you’re a MIC that actually does construction?”
Here’s something that makes brokers do a double-take. Yes, we do construction mortgages. No, that’s not a typo.
But before you start sending us your client with the 580 credit score who wants to build their dream home, let’s be clear: these aren’t your typical MIC deals. We only do construction for bankable clients. People the banks would ...
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Salmon Arm:
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 Salmon Arm:
70.0 %
“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 Salmon Arm:
65.0 % Community Specific LTV
Bridge Financing/Fully Open Term
Maximum Loan-to-Value (LTV) for Bridge Financing/Fully Open Term in Salmon Arm:
70.0 %
“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...
Commercial
Maximum Loan-to-Value (LTV) for Commercial in Salmon Arm:
55.0 % Community Specific LTV
Standard Product Info: ## "We need a commercial mortgage, but we're in Fort St. James..." Here's the thing about being a MIC that lends in tiny towns: sometimes commercial comes with the territory. The general store that's been there since 1952. The six-plex that...
Development/Subdivisions
Maximum Loan-to-Value (LTV) for Development/Subdivisions in Salmon Arm:
50.0 %
“Got a client with subdivision dreams? Unfortunately we’ll probably say no…”
Look, we know you’ve got that client. The one with 5 acres in Kamloops who’s convinced they’re sitting on a goldmine once it’s subdivided. They’ve got the sketches. They’ve done the math. They just need a lender who “gets it.”
We get it. We just don’t do it anymore.
After 20 years of funding subdivisions across rura...
Equity Lending
Maximum Loan-to-Value (LTV) for Equity Lending in Salmon Arm:
70.0 %
“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 Salmon Arm:
70.0 %
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...