# Duncan, BC

> **Lending here.** Maximum LTV: 65.0%.

## Lending snapshot

Here’s the deal on Duncan: it’s a stable, small-town service hub driven by retirees cashing out of bigger markets. While local incomes are low, the constant influx of equity keeps property values rock-solid. We’ll lend up to 65.0% LTV here, focusing on the asset’s quality rather than local paycheques.

## Key facts

- **Region:** Cowichan Valley
- **Maximum LTV:** 65.0%
- **Population:** 5,047
- **Economic score:** 7/100
- **Desirability score:** 9/100

## About Duncan

### Duncan Market Overview

An official population of 5,047 tells only part of the story. Duncan covers a tight 2.06 square kilometers, but the city serves as the primary commercial and healthcare hub for the broader Cowichan Valley. Its location on the Trans-Canada Highway corridor captures significant economic activity and traffic between Victoria and Nanaimo. This regional draw provides the local economy with far more stability than a typical town of this size.

Demographics dictate the local lending landscape. The median age is 55, and seniors make up 35% of the population. Retirees and downsizers flock here, drawn to the flat geography and mild climate of Plant Hardiness Zone 9a. This population drives the local economy, with health care and social assistance representing 14.8% of employment, retail trade at 14.5%, and accommodation and food services at 10.5%. Officially, the median household income is registered at $53, a statistical anomaly reflecting a population reliant on accumulated wealth and retirement equity rather than active employment. The employment rate sits at 45.4% with a 9.5% unemployment rate.

With municipal boundaries restricted to just 2.06 square kilometers, land is scarce. Greenfield expansion is nonexistent. Single-detached houses make up 41.8% of the inventory, while apartments under five storeys account for 43.8%. Row houses and duplexes represent 7.9% and 2.2% respectively. For brokers, this means deals rarely involve new subdivisions. Expect transactions to center on infill projects, strata units, and older single-family home renovations. Demand for these central locations remains high, supported by the fact that 50.0% of residents commute under 15 minutes.

Tekamar lends exclusively outside the Lower Mainland and Fraser Valley. Duncan fits our model perfectly. It operates as a self-contained service hub rather than a commuter suburb, keeping real estate values stable. Our economic score for the area is 7/10, and we assign it a community desirability score of 9/10. On residential properties in this market, Tekamar lends up to **65.0%** LTV.

Because of the local demographics, standard debt-service ratios often stall standard bank applications. Most Duncan files we fund are equity-driven rather than income-driven. We regularly structure bridge loans for retirees downsizing to the Island, or debt consolidation mortgages for seniors on fixed incomes. These borrowers have substantial home equity but lack the traditional cash flow required by prime lenders. If you have a client looking to unlock equity in their Cowichan Valley property, send us the file. We know the local market and structure these deals to close.

## Mortgage products available in Duncan

| Product | Max LTV | Terms |
|---|---|---|
| [Bare Land and Unique Properties](/mortgage_products/bare-land-or-odd-properties.md) | 65.0% | Standard product terms |
| [Bridge Financing](/mortgage_products/bridge-financing.md) | 65.0% | Standard product terms |
| [Credit Repair and Debt Consolidation](/mortgage_products/credit-repair-and-debt-consolidation.md) | 65.0% | Standard product terms |
| [Equity Lending / Refinance](/mortgage_products/equity-lending.md) | 65.0% | Standard product terms |
| [Purchases](/mortgage_products/purchases.md) | 65.0% | Standard product terms |
| [Variable Income](/mortgage_products/variable-income.md) | 65.0% | Standard product terms |

## Frequently asked questions

### What is the max LTV in Duncan, and why is it set there?

We cap our LTV at 65.0% to give us a comfortable cushion against the area's lower median household incomes and high 9.5% unemployment rate.

### How does the weak local economy affect getting a deal done?

Since local incomes are low, we don't focus on strict GDS/TDS qualification. Instead, we look at the asset's quality and the steady market demand driven by equity-rich retirees cashing out of Victoria and Vancouver.

### What would sink a deal for you in this market?

We will pass on highly speculative deals or poorly located properties. Duncan is a mature, slow-and-steady market, so we need to see a highly marketable, standard residential asset.


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