Duncan stands as Vancouver Island’s “City of Totems,” where the world’s largest collection of totem poles lines the streets and creates an unmistakable cultural identity. This compact city of just over 5,000 residents punches above its weight in character, sitting in the heart of the Cowichan Valley with a climate so mild it rivals Victoria’s.
The numbers tell an interesting story for mortgage brokers working this market. With a median age pushing 56 and over a third of residents being seniors, Duncan has clearly established itself as a retirement destination. That demographic shift isn’t accidental—the Zone 9a climate means palm trees actually survive here, and the 45-kilometer drive to Victoria keeps urban amenities within reach without the urban price tag.
Housing stock splits almost evenly between single-family homes and apartments, which makes sense given the age demographics. Retirees often downsize from larger properties elsewhere, creating steady demand for both housing types. The 65% maximum LTV we offer reflects Duncan’s solid fundamentals: it’s close enough to Victoria to maintain property values, yet far enough away to avoid the speculation that plagues larger markets.
Healthcare dominates the employment landscape at nearly 15% of jobs, followed closely by retail—both recession-resistant sectors that support the community’s stability. The Cowichan Valley’s agricultural heritage continues with local wineries and farmers markets, while the nearby Cowichan River draws fishing enthusiasts year-round.
For brokers, Duncan represents that sweet spot where property values hold steady thanks to lifestyle appeal and proximity to Victoria, while still offering the equity opportunities that make alternative lending profitable. The city’s transformation from logging town to cultural hub and retirement haven has created a mature, stable market that weathers economic storms better than resource-dependent communities.
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Our Mortgage Products Available in Duncan
| Mortgage Product Name | Max LTV | Key Notes for Duncan |
|---|---|---|
| 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 Duncan:
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 Duncan:
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 Duncan:
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 Duncan:
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 Duncan:
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 Duncan:
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...