Just how different?
Working with us
We're a small-town mortgage investment corp that specializes in working on deals other MIC's won't. As long as your deal is for property located in our lending area and the deal makes sense, we'll consider it.
What's a deal that makes sense? Something with a clear exit path and a LTV that matches the risk of the property, location and borrower.
If you've ever brokered a deal with another MIC, you'll find a lot of similarities in how we operate. If this is your first B deal, here's a couple benefits of working with a Mortgage Investment Corporation:
- We underwrite based on common sense
- We can turn around deals quickly
- We'll work with you to make the deal work
Tekamar is no different. The only thing that separates us from most MICs is that we tend to lend in places with higher DOMs (days on market) than most. Which just means you've just found a lender that will consider your commercial, float-plane access only deal in the Kootenays where other MIC's might not.
How we’re different from banks
One of the biggest benefits of working with a mortgage investment corporation is the source of our funds. While we are very regulated (just ask our auditors), because we are not borrowing federal money, we are provincially regulated - like credit unions - on what we can lend on. Our lending policies are instead set by the level of risk versus the expected return on investment of our investors/shareholders. This means that because our funds are not federally derived, instead of having to fit your client into a check box of OSFI lending guidelines, we're able to look at it from a "does this deal make sense to our investors" lense.
Faster turnaround, unique situations, more flexibility on equity versus income and the ability to work with your borrower's that just don't fit in the Banks's boxes. Sometimes it just makes sense to go with a MIC.