Financing second homes, retirement purchases, and wine country investments between Okanagan and Skaha Lakes.
Few places in Canada have the geographic luck of Penticton — wedged between two lakes, anchored by the Naramata Bench wine country to the north, and shielded by the Kettle Valley bench to the east. It's a magnet for retirees, second-home buyers from the Lower Mainland and Calgary, and investors who see long-term value in a market that attracts year-round visitors. Ajay Bhanot serves Penticton buyers entirely through a secure digital mortgage process operated from his Abbotsford brokerage base. Because BC mortgage brokering is a single province-wide license, the entire journey — from first consultation through final funding — happens online, by phone, and through e-signed documents.
The Penticton market breaks down into distinct pockets. The Naramata Bench stretches north along the east shore of Okanagan Lake and is dominated by vineyard estates, boutique wineries, and luxury acreage buyers. Skaha Lake properties on the south end draw families and retirees wanting calm swim-friendly water, while the Wiltse and Uplands neighborhoods offer established single-family homes with some of the best views in the city. Closer to the Channel Parkway you'll find the more affordable condo and townhouse inventory — often the first stop for downsizing retirees or first-time Okanagan buyers. Each of these segments has a different ideal lender, and walking into one bank in downtown Penticton means accepting only what that single bank can offer.
What makes Penticton unique as a mortgage market is the out-of-town buyer concentration. A large share of purchases are second homes or retirement relocations where the buyer's primary income comes from Vancouver, Calgary, Edmonton, or overseas. Lenders treat these files differently — some welcome them eagerly, while others apply more conservative debt servicing ratios to non-resident-of-Penticton buyers. Wine country properties add another layer: vineyard acreage, small orchard parcels, and agricultural tourism zoning all narrow the list of willing lenders. Ajay matches the property type and buyer profile to a lender likely to approve quickly and at the best rate available.
Using a broker in Penticton also helps with timing. Out-of-town buyers often have tight subject removal windows and need reliable communication through someone who responds quickly, rather than chasing a branch manager. Ajay runs a lean, responsive practice with direct contact from first call through funding. Beyond Penticton itself, he also serves Summerland, Naramata, Okanagan Falls, Oliver, Kelowna, West Kelowna, and the rest of the Okanagan with the same remote workflow.
Naramata Bench vineyard and view estates consistently outperform the broader regional market, but they require lenders willing to underwrite agricultural land components.
A meaningful slice of Penticton purchases come from retirees downsizing out of the Lower Mainland and Alberta, which keeps demand steady for low-maintenance condos and patio homes.
Sitting between Okanagan and Skaha Lakes creates two distinct waterfront markets with very different buyer profiles and valuation considerations.
Ajay serves the full Okanagan with the same remote digital workflow.
Second-home purchases are one of the most common files Ajay handles for Penticton. If the property will be occupied by you or an immediate family member (not rented out), it can be financed with as little as 5% down under CMHC's Second Home program, using your primary residence income. Everything is handled remotely — you will never need to fly in for documents or signing. Ajay frequently funds Calgary and Vancouver buyers purchasing near Skaha Lake, Uplands, or on the Naramata Bench.
Vineyard and orchard properties on the Naramata Bench are some of the most scenic real estate in Canada, but they require specialized financing. If the acreage is productive, lenders may treat the file as hobby farm or full agricultural, depending on income generated. Standard residential lenders typically decline; credit unions and a handful of specialty lenders will approve with 25% to 35% down. Ajay has placed several of these files and knows which lenders are currently active in this segment.
Short-term rental income has become more restricted in BC since the provincial legislation changes, and lenders are increasingly cautious about underwriting based on Airbnb-style income. Most will only count long-term rental market value, not peak summer short-term projections. If the property is in a zone that still permits short-term rentals and has a provable history, some B-lenders may give partial credit. Ajay reviews your specific property's zoning and history before choosing a lender.
Yes. Pension, CPP, OAS, RRIF withdrawals, and investment income are all recognized by lenders as qualifying income. Many retirees downsize from larger Lower Mainland or Alberta homes and carry a smaller Penticton mortgage alongside their retirement savings. The challenge is often amortization — some lenders set age-based limits on amortization length. Ajay works with lenders comfortable underwriting retirement income and can structure a mortgage that fits your long-term cash flow plan.
For Penticton homeowners who have held their property for several years, refinancing to access equity at mortgage rates is typically far cheaper than a home improvement loan or credit card debt. A refinance can go up to 80% of the appraised value and lets you keep the renovation tied to a single low monthly payment. For smaller phased projects, a HELOC may be more flexible. Ajay compares both options side-by-side so you see the true cost of each path.
Call 604-500-0088 or send Ajay a message to start a Penticton pre-approval — including second-home and retirement purchases.