# Sicamous, BC

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

## Lending snapshot

Sicamous is a premier lakeside resort town, but its economy is highly seasonal with a hefty 11.4% unemployment rate. That's why we cap our max LTV at 65.0%. It's a solid market for equity-heavy files and second homes, but high-ratio deals won't fly here.

## Key facts

- **Region:** Columbia Shuswap
- **Maximum LTV:** 65.0%
- **Population:** 2,613
- **Economic score:** 6/100
- **Desirability score:** 6/100

## About Sicamous

### Understanding the Sicamous Market

Sicamous sits 30 kilometers down the Trans-Canada Highway from our Salmon Arm office. We know this market well because we drive it constantly. To tourists, it is the "Houseboat Capital of Canada," a summer playground between Shuswap Lake and Mara Lake. To a mortgage broker, it represents a highly seasonal resort market of 2,613 year-round residents. When underwriting a deal here, you cannot treat it like a standard suburban community. The economics are deeply tied to recreational spending and seasonal shifts, which directly impacts property liquidity.

The local demographics tell the real story. The permanent population has grown 7.6% since 2016, but it remains heavily weighted toward retirees. The median age is 57, and seniors aged 65 or older make up 31% of the population. This shapes the local workforce and economic stability. Construction is the primary employer at 14.8% of the workforce, driven by building and maintaining seasonal cabins. Retail trade and healthcare both follow at 11.4% each, while manufacturing supports another 8.9% of the local economy. Because so much employment relies on the summer boating and winter snowmobiling seasons, the year-round economy has some friction, reflected in an 11.4% unemployment rate.

### Real Estate and Liquidity Challenges

Brokers need to recognize that Sicamous is not a commuter hub. Only 47.1% of working residents have a commute under 15 minutes, and the average commute is 23.4 minutes, reflecting a highly localized job market. Real estate demand is driven almost entirely by out-of-town recreational buyers rather than local employment growth.

Single-detached homes represent 63.5% of the housing stock, while movable dwellings, such as mobile homes, make up 10.8%. The remaining market is split between row houses at 10.0% and apartments under five storeys at 8.8%.

The biggest risk in a seasonal market like this is exit liquidity. A waterfront cabin that triggers multiple offers in June can sit on the market for six months with zero showings if it is listed in November. As private lenders, we must evaluate the worst-case scenario. If a borrower defaults, how long will it take us to recover our capital during the off-season while carrying costs pile up?

### Underwriting Guidelines in Sicamous

At Tekamar, we lend our own capital. Protecting that principal is our primary job. Because of the seasonal nature of the local economy and the limited pool of local, year-round buyers, we manage our exposure carefully. We score both the community desirability and the local economy at 6/10. This is a stable, proud highway community, but the winter slowdown requires structured leverage.

We regularly write deals in Sicamous for equity loans, debt consolidation, and bridge financing. To manage the liquidity risk of a resort-dependent market, our maximum loan-to-value ratio is capped at **65.0%**.

If you have a client with solid equity in a Sicamous property who does not fit the rigid boxes of the local credit unions, bring us the file. We do not use automated valuation models or generic templates. We know these streets, we understand the seasonal market swings, and we can deliver a commitment letter within hours.

## Mortgage products available in Sicamous

| 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's the max LTV in Sicamous, and why is it capped there?

We cap lending at 65.0% LTV because Sicamous is a seasonal resort market. If a property goes into foreclosure during the winter off-season, it can sit on the market for months, increasing our carrying costs.

### How does the local economy affect which deals actually get approved?

With low median household incomes of $65,000 and high unemployment, we don't look for strong local debt service. Instead, this market is tailor-made for second-home buyers, retirees with deep pockets, and equity take-outs.

### What's a deal-breaker that will sink a file here?

Trying to push a high-ratio deal or relying on weak, seasonal local income without a mountain of equity will get a quick pass. We need to see a clear exit strategy and a maximum 65.0% LTV to write the deal.


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*Plain-markdown copy for LLM/agent use. Canonical page: https://www.bridgefort.ca/communities/sicamous*
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