Creston

Lending in Creston

Creston is the quintessential Kootenay valley town. It’s the service hub for the surrounding agricultural area, set between the Selkirk and Purcell mountains on the traditional, unceded territory of the Yaqan Nukiy people. It’s not a boomtown, and it’s not trying to be. This is a stable, slow-growth community anchored by farming, a strong retiree demographic, and a distinct lack of speculative frenzy. In fact, the local climate has warmed so significantly that it’s moved up an entire plant hardiness zone, making it an even bigger draw for lifestyle-seekers. For brokers, it’s a market that requires a clear understanding of the local economy.

The numbers here tell a story that A-lenders often find challenging. A median household income under $60,000 and an unemployment rate of 9.0% means many borrowers simply won’t fit the standard institutional box. The economy is diverse but modest, driven by healthcare, retail, and agriculture. There’s no single, high-paying industry propping things up, and the reliance on sectors like manufacturing and forestry introduces some cyclical risk. Demographically, the town skews older, with a median age of 57.6. With seniors making up nearly 40% of residents and less than half the population being of working age, this is a market fueled by retirement funds and lifestyle choices, not high-income job transfers.

From a lending perspective, these factors demand a conservative approach. The housing stock is overwhelmingly single-detached homes—about three-quarters of all dwellings. And while the population is growing slowly, the market isn’t under intense pressure. With a population density of just over 660 people per square kilometre, this is a genuinely rural market. Properties here will sell, but the timeline can be longer and the buyer pool smaller than in larger centres. That directly informs our risk calculation. The appeal for out-of-province buyers and an established arts scene provide a solid floor for property values, but the underlying economic indicators limit the upside and introduce real liquidity risk.

This is exactly the kind of market Tekamar is built for. We see the stability and the lifestyle appeal, but we’re also realistic about the economics. We’re not chasing high-ratio deals here. Our focus is on well-secured equity loans for borrowers with a clear exit strategy. We understand the reasons a client in Creston might need a bridge loan, debt consolidation, or a second mortgage that their bank can’t provide.

Because of the market’s moderate liquidity and economic profile, our underwriting is disciplined. We’re comfortable lending in Creston, but we manage our exposure carefully. For a solid property with a reasonable borrower, our maximum LTV here is 65.0%. This approach allows us and our broker partners to navigate the local market safely. It protects our investors and provides practical financing solutions where the big banks often won’t.