Burnaby

Burnaby sits squarely in the heart of Metro Vancouver, and that’s both its blessing and its curse from a lending perspective. With nearly 250,000 residents packed into 90 square kilometers, this isn’t exactly the small-town territory where Tekamar typically operates.

The numbers tell an interesting story. Despite being BC’s third-largest city, Burnaby maintains an unusual housing mix — only 18.9% single-detached homes, with the rest split between apartments, townhouses, and duplexes. It’s a city that grew up, not out, creating density that rivals many major urban centers.

Here’s where things get tricky for alternative lending. Burnaby’s proximity to Vancouver means it’s firmly within the Greater Vancouver area, where traditional lenders dominate and property values reflect big-city premiums. The median household income of $83,000 sounds reasonable until you factor in housing costs that mirror Vancouver’s market dynamics.

The city’s economy runs on professional services, retail, and healthcare — stable sectors that attract conventional mortgage products. With 73.8% of residents holding post-secondary education and nearly half with bachelor’s degrees or higher, this isn’t typically the demographic seeking equity-based lending solutions.

Climate-wise, Burnaby enjoys Zone 8b conditions, meaning you can grow tender plants that wouldn’t survive elsewhere in BC. The 31-minute average commute reflects its role as a bedroom community for Vancouver workers, though 16.3% of residents keep their commutes under 15 minutes.

Our maximum LTV in Burnaby is 0.0% — we don’t lend here. The Greater Vancouver market has plenty of lending options, and frankly, that’s not where we shine. Tekamar focuses on communities where other MICs fear to tread, places where local knowledge matters more than big-city lending formulas.

For brokers with Burnaby clients needing alternative financing, you’ll want to look elsewhere. For those with clients in BC’s smaller centers where stoplights are optional, that’s where we excel.