A picture of Mt Assiniboine in British Columbia

Just how different?

Working with us

We're a small-town mortgage lender that specializes in working with clients where other lender's wont. As long as you own (or are trying to buy) property in the areas we lend and it makes sense, we'll consider it.

What's a deal that makes sense? A fix to a problem that has a clear exit strategy.

Tekamar mortgage fund is a mortgage investment corporation. We don't do long term mortgages. Our goal is to help clients fix their mortgage problem, then get out. If you need a mortgage lender that has some common sense, we might just be exactly what you're looking for.

How exactly do we do that?

  • We look mostly at the property, not the borrower
  • We believe in looking at all deals with common sense.
  • We'll work with you to make the deal work, then get out of your way.

How we’re different from banks

We are a mortgage investment corporation. That means our money comes from private investors, not the Bank of Canada. We are (strongly - just ask our auditors) provincially regulated - just like credit unions. This means that because we're borrowing from our investors, and not the BoC or bond market. Because of that, we don't have to use the same OSFI check boxes bigger banks have to use. Instead, as long as we are lending on mortgages our investors are okay with, we are able to look at it from a place of common sense.

Faster turnaround, unique situations, more flexibility on equity versus income and the ability to work with you on deals that just don't fit in the Banks's boxes. Sometimes it just makes sense to go with a MIC.

What's the catch?

We cost more. Simple as that. Because we're borrowing from investors at 6% (or more), we need to lend out our funds at more than that. The extra covers cost of originating, managing the mortgage, and setting aside extra for the increase risk of lending on unique mortgages.

How much more? Usually we lend at between 7 and 12 percent. We lend with the goal of lending to you for less than two years, at which point we work with you to move your mortgage to more traditional bank financing at lower rates

The How and What

Our Available Products

Construction Mortgages

Between our no-fixed-schedule draws (often fund within 6 hours of updated progress inspection reports), allowance for owner-builders and our standard expanded lending area, we try to do construction mortgages how we'd want them to go on our own builds.

Equity Lending

Have lots of equity in your home, but just not showing enough to meet the bank's checkboxes on income? No worries. If there's enough equity to support it, we'll consider it.

Credit Repair

Life happens. Sometimes it's bad luck, sometimes its decisions gone bad, but we don't think that's a good reason to have to sell your home. If there's a plan to fix it, we're happy to consider lending - regardless of your credit score.

Variable Income Streams

You know you make the money to support the payments, but just can't show two years history of it to meet B20 lending guidelines? Self employed but not claiming it personally? No worries. We're not quite as stickler about your annual notice of assessment income amounts.

Bare Land/Odd Property

Private island with no ferry access? Some unserviced bare land just outside of Kelowna? If your equity covers the risk of the property, we have no issues with putting a mortgage on just dirt.

Bridge Financing/Open Term

Buying a new house and need the equity in your current home to buy the next one before yours sells? We'll put a mortgage on both and give you a lot less headache than the bank will for a quick fix.

Work with us..

Ready for the lender you need? Get in touch to start the process.