Grand Forks

If you’ve ever driven through the Kootenay Boundary region of British Columbia, you’ve likely passed through Grand Forks—a small town with a big personality. Nestled where the Granby and Kettle Rivers meet, this place isn’t just another stop on the highway. It’s a hidden gem for lifestyle seekers, retirees, and yes, even savvy mortgage brokers and borrowers looking for unique opportunities. At Tekamar Mortgage Fund, we’re excited to talk about Grand Forks because it fits our niche perfectly: we lend where other MICs won’t, especially in smaller towns like this one.

What makes Grand Forks stand out from other BC communities? For starters, it’s got a vibe that’s hard to replicate. Think access to the stunning Christina Lake, just a short drive away, or the nearby Phoenix Resort for winter enthusiasts. This town draws retirees and seasonal residents who crave nature and a slower pace, which keeps housing demand steady even in a softer economy. From a real estate perspective, that’s gold. For borrowers, it means your property here might hold value better than you’d expect in a small market. And for brokers, it’s a chance to work with a lender like us who understands the quirks of towns without stoplights.

Let’s talk numbers—without drowning you in stats. Grand Forks has a high percentage of single-detached homes, making up over 75% of the housing stock. That’s a big deal for equity lending, which is our bread and butter at Tekamar. These properties often appeal to folks who don’t quite qualify for traditional bank loans due to income or credit hiccups. If you’re a borrower in this boat, we’re happy to look at your deal with a max loan-to-value (LTV) of 55% in Grand Forks—lower than our cap of 70% in bigger centers like Kelowna, but still workable for the right situation. Brokers, this means you can bring us those alternative finance deals with confidence, knowing we prioritize a safe exit strategy over chasing high LTVs.

Now, a quick reality check. The local economy took a hit years ago with the loss of the Pope & Talbot mill, and there’s still some reliance on logging and manufacturing. That can spook some lenders. Not us. We see the flip side: tourism and agriculture add diversity, and the lifestyle appeal keeps people coming. But here’s an insider tip—when we assess a deal in Grand Forks, we’re extra cautious about the timeline for recovery if things go south. Small markets can take longer to sell in a foreclosure scenario, so we factor in accumulating interest and holding costs. It’s why our LTV here is conservative. Borrowers, that just means we’re protecting our investors (and your equity) by playing it smart. Brokers, it’s a reminder to call us early to chat through the deal’s viability.

Grand Forks isn’t perfect, but it’s got character. Whether it’s the community events that light up the town or the mild climate that’s gotten even friendlier over the decades, there’s a pull here. At Tekamar, we’re all about finding value in places others overlook. So, if you’re a borrower with a property in Grand Forks, or a broker with a client who needs a creative solution, let’s talk. We’ve been at this for over 20 years, and we’re ready to make deals happen where others just shake their heads.