Ucluelet sits where the Pacific Ocean meets ancient rainforest, creating one of BC’s most compelling real estate stories. This isn’t your typical coastal town—it’s transformed from a logging outpost into a sophisticated tourism destination while maintaining its rugged West Coast character.
The numbers tell the story of a community in transition. With 20% population growth since 2016 and accommodation services leading employment at 18%, Ucluelet has successfully pivoted from resource extraction to experience economy. The median household income of $83,000 reflects this shift, supported by professional services and healthcare sectors that cater to both residents and the steady stream of visitors drawn to the Wild Pacific Trail and world-class storm watching.
What sets Ucluelet apart is its position as the gateway to Pacific Rim National Park Reserve, yet it’s managed to avoid the tourist trap pitfalls that plague other coastal destinations. The town maintains year-round economic activity through fishing charters, eco-adventures, and a growing retiree population attracted to the temperate Zone 7b climate. Unlike many seasonal coastal communities, Ucluelet’s infrastructure supports full-time living with modern amenities and reliable services.
The housing market reflects this stability—56% single-detached homes dominate, with a healthy mix of apartments and duplexes serving different lifestyle needs. Properties here aren’t just homes; they’re lifestyle investments in one of Canada’s most spectacular natural settings.
For mortgage brokers, Ucluelet represents an opportunity to serve clients seeking that rare combination of natural beauty and economic resilience. Our 60% maximum LTV reflects the strong fundamentals of this Pacific Rim community, where ocean views and outdoor adventures drive consistent property demand.
The transition from trees to tourism is complete, and Ucluelet’s real estate market benefits from this evolution every day.
the Nearest Tim Hortons
the Nearest Costco
Nearest Hospital
Our Mortgage Products Available in Ucluelet
| Mortgage Product Name | Max LTV | Key Notes for Ucluelet |
|---|---|---|
| Construction Mortgages | 60.0% | Standard product terms |
| Variable Income | 60.0% | Standard product terms |
| Bare Land and Unique Properties | 60.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 60.0% | Standard product terms |
| Equity Lending | 60.0% | Standard product terms |
| Purchases | 60.0% | Standard product terms |
Detailed Mortgage Product Information
Construction Mortgages
Maximum Loan-to-Value (LTV) for Construction Mortgages in Ucluelet:
60.0 %
“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 ...
Variable Income
Maximum Loan-to-Value (LTV) for Variable Income in Ucluelet:
60.0 %
“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 Ucluelet:
60.0 %
“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 Ucluelet:
60.0 %
“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 Ucluelet:
60.0 %
“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 Ucluelet:
60.0 %
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...