100 Mile House

If you’ve ever driven up Highway 97 through British Columbia’s interior, you’ve likely passed through 100 Mile House. It’s not just a pit stop for gas and coffee—it’s a small town with a big personality, rooted in history and surrounded by raw, rugged beauty. For mortgage brokers and borrowers alike, this place offers some unique opportunities and challenges worth understanding, especially if you’re looking for alternative financing with a lender like Tekamar Mortgage Fund who’s willing to play ball in smaller communities.

Let’s start with what makes 100 Mile House stand out. This town, originally a stagecoach stop during the Cariboo Gold Rush, sits in the heart of the South Cariboo region. It’s a hub for outdoor enthusiasts—think fishing at Horse Lake or skiing at Mount Timothy. That lifestyle appeal draws a specific crowd, often retirees or folks craving a quieter pace, which shapes the real estate market here. With a median age of 55.2, it’s no surprise that nearly a third of the population is over 65. For brokers, this means potential deals tied to downsizing or equity release for retirees. And borrowers? If you’re in that demographic, you might find equity lending options with us at Tekamar to help tap into your home’s value for a more comfortable retirement.

From a mortgage perspective, the housing mix here is intriguing. Almost half the homes are single-detached, but there’s also a decent chunk of apartments and even movable dwellings. This variety can be a goldmine for creative financing—think second mortgages or bridge loans on non-traditional properties. At Tekamar, we’re open to these kinds of deals in 100 Mile House, with a maximum loan-to-value (LTV) of 55%. That’s lower than in bigger centers like Kelowna, where we go up to 70%, because resale timelines in smaller markets can stretch out, especially with harsh winters that might cool buyer interest. We’re cautious, but not closed off. Brokers, if you’ve got a deal with strong equity and a clear exit strategy, give us a call. Borrowers, if the banks have turned you down due to income or credit hiccups, we might still be your solution.

Now, a heads-up on the economic reality. The town leans heavily on forestry and ranching, with retail and hospitality rounding out the job scene. Unemployment sits high at 15.3%, and median household income is on the lower side. That’s a red flag for risk-averse lenders, but it’s exactly why Tekamar’s niche—lending where others won’t—matters. We’re not scared off by smaller markets; we just adjust our approach. Our focus is equity lending, ensuring there’s enough cushion in the deal to protect our investors (all friends and family, by the way). We’re sticklers for regulations like KYC and FINTRAC, so every file gets a thorough look.

One last tidbit—100 Mile House isn’t all work and no play. The annual Cariboo Marathon is a quirky local event that draws skiers from across the province. It’s a reminder of the community spirit here, something that can’t be quantified in a spreadsheet. For brokers scouting deals, that tight-knit vibe often means clients with deep roots and stable intentions. For borrowers, it’s a place where a home isn’t just an asset—it’s a lifestyle.

So, whether you’re a broker with a tricky file or a borrower needing a lender who gets small-town dynamics, 100 Mile House is on our radar at Tekamar. We’re here to lend where others hesitate, with a sharp eye on safety and a genuine interest in making deals work. Got a property in mind? Let’s talk.