Victoria’s property market tells a story that most mortgage professionals already know — this isn’t just another coastal city. With nearly half the housing stock in apartments under five stories and only 13.6% single-detached homes, the capital creates unique lending opportunities that many MICs miss entirely.
The numbers reveal why we’re comfortable with a 70% maximum LTV here. That 23.2% senior population isn’t an accident — Victoria’s Zone 9a climate means gardeners grow Mediterranean plants year-round while the rest of Canada scrapes ice. The Butchart Gardens didn’t become world-famous by luck; they showcased what’s possible when winter barely exists.
Government workers (12.9% of the workforce) and healthcare professionals (14.7%) create mortgage stability that commodity-dependent towns can’t match. These aren’t boom-bust cycles — they’re steady paychecks that weather economic storms. Add the tourism sector and you’ve got three pillars holding up property values.
Here’s what separates Victoria from other markets: that 37.6% of residents with commutes under 15 minutes. Try finding that combination of career opportunities and lifestyle anywhere else in Canada. The cycling infrastructure rivals European cities, and Inner Harbour walks beat most vacation destinations.
The housing density tells the real story. With 4,722 people per square kilometer, Victoria maximizes oceanfront access while maintaining livability. Row houses and duplexes fill the gap between downtown condos and suburban sprawl, creating options for every borrower profile.
For brokers working with clients who’ve discovered Victoria’s secret — mild winters, short commutes, and retirement paradise wrapped into one market — we’re here. The fundamentals support our lending comfort zone, and the lifestyle factor ensures properties move quickly when they need to.
Our Mortgage Products Available in Victoria
| Mortgage Product Name | Max LTV | Key Notes for Victoria |
|---|---|---|
| Credit Repair and Debt Consolidation | 65.0% | Standard product terms |
| Variable Income | 70.0% | Standard product terms |
| Bare Land and Unique Properties | 65.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 70.0% | Standard product terms |
| Equity Lending | 70.0% | Standard product terms |
| Purchases | 70.0% | Standard product terms |
Detailed Mortgage Product Information
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Victoria:
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 Victoria:
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 Victoria:
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 Victoria:
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...
Equity Lending
Maximum Loan-to-Value (LTV) for Equity Lending in Victoria:
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 Victoria:
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...