Delta

Lending in Delta: A matter of mandate

Let’s be direct. Delta is a solid, mature community. It’s one of Metro Vancouver’s oldest municipalities, and its character reflects that: a stable, predictable mix of suburban life anchored by deep agricultural and fishing roots. This isn’t a boom-and-bust town. The demographics tell the story of a place where people put down roots, with a median age of 44 and over 20% of the population aged 65 or older. The housing stock is exactly what you’d expect from an established area—over 55% is single-detached homes, but there’s a significant supply of duplexes and low-rise apartments that round out the neighbourhoods of Ladner and Tsawwassen. It’s a settled community, not a speculative one.

From a lender’s perspective, the fundamentals are strong. The economy isn’t reliant on a single sector. The top four industries—retail, healthcare, transportation, and construction—are stable and make up a huge chunk of local employment. With a median household income of $108,000 and an employment rate near 60%, residents have financial capacity. In a worst-case scenario, the market here is liquid. A property in Delta is desirable, period. Its surprisingly mild climate, a full Plant Hardiness Zone warmer than it was a few decades ago, attracts lifestyle buyers and retirees. Add in the parks and proximity to the city, and you have a reliable exit strategy. A foreclosure sale would likely be clean, concluding within 3-5 months with a modest 10-15% discount. The risk profile is, on paper, quite manageable.

So, why don’t we lend here?

It comes down to our core identity. Tekamar was built to serve the rest of BC—the places outside the orbit of Greater Vancouver and the Fraser Valley. We are, by design, the MIC for communities that don’t always have a dozen lenders competing for their business. Delta, by its very geography and integration into the Lower Mainland, is part of the market we explicitly exclude from our mandate. It’s well-serviced by the big banks, credit unions, and other MICs who specialize in major urban centres. That’s their turf. Our capital comes from investors who trust us to operate in markets we know inside and out, from the Kootenays to the Island, and competing in the Metro Vancouver machine isn’t our model. We’re disciplined enough to stick to ours.

Our focus is on areas where our equity-based approach provides a genuine solution for brokers and their clients, often in smaller towns where local context is everything. For this reason, Delta falls outside our defined lending area. While we recognize its stability and appeal, our mandate keeps us focused on the communities we were founded to serve. Our maximum loan-to-value in Delta is 0.0%. If you have a deal in a town with one stoplight, we’re your first call. If it’s in Delta, you’ve got plenty of other options.