Kamloops values held steady in the 2026 assessments, with a typical single-family home at about $693,000 and typical condos just under $400,000. Many Kamloops retirees own outright and want to stay close to family. A reverse mortgage is one option, and in a market like this the alternatives deserve a hard look too.
Kamloops at a glance
| Typical 2026 BC Assessment value | Value | Change from 2025 |
|---|---|---|
| Single-family home | $693,000 | 0% |
| Strata (condo or townhouse) | just under $400,000 | about flat |
Typical assessed values as of July 1, 2025, published by BC Assessment for 2026. Your home's market value and a lender's appraisal can differ.
A couple whose youngest is 72, with a typical Kamloops house worth $693,000, would see roughly $187,000 to $213,000 on our calculator (location set to "Other BC city or town").
Illustration only. Not a quote, offer or approval. Any existing mortgage is paid out first, so your cash in hand is less. Try your own numbers in the calculator.
What to know about reverse mortgages in Kamloops
Location affects the numbers
Lenders are usually more conservative outside the largest metro areas, and each sets its own lending map. On a typical $693,000 Kamloops house, a couple whose youngest is 72 would see roughly $187,000 to $213,000 on our calculator. Some lenders may offer more on the right home, so we compare them.
Rural and acreage properties
Properties outside city limits, in places like Barnhartvale, Westsyde rural areas or the North Thompson, may be treated differently or fall outside some lenders' areas. We check your exact address first.
Minimum values
Lenders usually set a minimum home value, commonly around $250,000. Most Kamloops houses clear that easily. Some condos and older homes in smaller communities nearby may not.
The basics, in one minute
A reverse mortgage lets homeowners 55 and over borrow against their home with no regular payments required on most products. You keep title. Interest is added to the balance, so the amount owed grows and the equity left shrinks. The loan is repaid when the home is sold, the last borrower moves out for good or passes away, or the loan goes into default. You must keep paying property taxes and insurance and keep the home in good repair. Rates are typically higher than a regular mortgage, and fees apply. Read the full BC guide or the honest pros and cons.
If a spouse is not on the loan, it can come due when the borrowing spouse dies or moves out, even if that spouse still lives in the home. Check this in writing before signing.
Alternatives worth comparing in Kamloops
- A HELOC, if you qualify and can handle monthly payments
- BC property tax deferment, if the tax bill is the main pressure
- Renting a suite or room, if the home and local rules allow it
- Family help, if everyone agrees and can afford it
- Downsizing, if the home no longer fits
If a cheaper tool solves the problem, use that one. I will tell you straight if a reverse mortgage is the wrong move.
Other BC cities
Questions people ask
How much can I get with a reverse mortgage in Kamloops?
On a typical $693,000 Kamloops house, a couple whose youngest is 72 would see roughly $187,000 to $213,000 on our calculator. Illustration only.
Do reverse mortgage lenders lend in Kamloops?
Generally, yes, within the city. Rural addresses may differ by lender, so we confirm for your property.
What if my home is worth less than $300,000?
Lenders usually set a minimum, commonly around $250,000. Below that, look at a HELOC, tax deferment or other options.
About the author
Matt Blake is a licensed mortgage broker in British Columbia with BRX Mortgage Inc. He helps homeowners 55 and over, and their families, compare reverse mortgages with HELOCs, selling and downsizing, and he will tell you straight when a reverse mortgage is the wrong move.
Licence MB600487 · BRX Mortgage Inc., brokerage licence X301291 · Last reviewed October 2026
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