Houston
Lending guidelines for Houston, British Columbia
Last reviewed by Tekamar Mortgage Fund on
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Houston is a small, resource-dependent town in BC's Northern Interior where we cap our LTV at 45.0%. The local economy relies heavily on forestry and manufacturing, which brings high unemployment (12.4%) and serious cyclical risk. It's a shallow market with long resale timelines, so we keep leverage low to protect against worst-case recovery scenarios.
Houston, BC: Lending Parameters and Market Analysis
Houston sits right on Highway 16 in the Bulkley Valley, roughly halfway between Prince George and Terrace. With a population of 3,052, it functions as a classic northern BC resource town. If your client is looking to buy or refinance here, they are not looking for city amenities or a trendy vacation property. They are usually moving to the area to work, fish, and enjoy a quiet, self-reliant lifestyle.
The local economy is heavily blue-collar and tied directly to resource cycles. Manufacturing is the primary employer, representing 19.9% of the workforce, which is largely driven by local forestry operations and mill work. Agriculture and forestry follow closely behind at 14.5%. This concentration means when commodity markets fluctuate, the entire town feels the impact. The local unemployment rate sits at 12.4%, showing the structural volatility common in northern resource-dependent communities. Despite these economic swings, the population has grown by 2.0% since 2016, and the median age is a relatively young 38 years. These are primarily working-age families drawn to the region by affordable housing and immediate access to the outdoors.
The local housing market is thin and moves slowly. Single-detached homes make up 60.2% of the residential options, but movable dwellings—including mobile and manufactured homes—represent a significant 15.4% share. Before you submit a file to us, you need to verify exactly what kind of structure sits on the property. Because physical land is highly abundant in this region, housing demand does not experience speculative spikes; instead, it is driven almost entirely by local employment opportunities.
We lend in Houston, but we maintain a conservative stance. We score both the community desirability and the economic strength at a 5 out of 10. In a market of this scale, if a borrower defaults, liquidating the property can turn into a lengthy process. A property sitting on the market for months quickly drains equity through accrued interest, maintenance costs, and legal fees. To safeguard our investors’ capital, we cap our exposure here at a maximum LTV of 45.0%. This policy ensures the borrower retains significant skin in the game while protecting our position.
For the locals, the lifestyle is the main draw. Houston calls itself the “Steelhead Capital of the World,” and the fishing on the Bulkley River is a legitimate economic driver. For a community of its size, the civic infrastructure is solid, featuring a local recreation center with a 25-meter pool and a hockey arena. It is a stable, working-class market, and we are ready to write deals here provided the equity matches our criteria.
the Nearest Costco
Nearest Hospital
Frequently Asked Questions
We cap LTV at 45.0% because of the town's limited market depth and high economic volatility. If a deal goes south, the lack of active buyers means longer disposition timelines and higher recovery costs.
With over 34% of jobs tied to resources and manufacturing, plus a 12.4% unemployment rate, the local market is highly cyclical. We underwrite with a strict worst-case recovery mindset because a dip in the resource sector instantly dries up local demand.
Over 15% of the local housing stock consists of movable dwellings, which are too complex for our risk appetite. We will also pass on highly niche properties that shrink an already tiny pool of potential buyers.
Our Mortgage Products Available in Houston
| Mortgage Product Name | Max LTV | Key Notes for Houston |
|---|---|---|
| Construction Mortgages | 37.0% | Standard product terms |
| Credit Repair and Debt Consolidation | 45.0% | Standard product terms |
| Variable Income | 45.0% | Standard product terms |
| Bare Land and Unique Properties | 45.0% | Standard product terms |
| Bridge Financing | 45.0% | Standard product terms |
| Equity Lending / Refinance | 45.0% | Standard product terms |
| Purchases | 45.0% | Standard product terms |
Detailed Mortgage Product Information
Construction Mortgages
Maximum Loan-to-Value (LTV) for Construction Mortgages in Houston:
37.0 %
“Wait, you’re a MIC that actually does construction?”
Here’s something that makes brokers do a double-take. Yes, we do construction mortgages. No, that’s not a typo.
But before you start sending us your client with the 580 credit score who wants to build their dream home, let’s be clear: these aren’t your typical MIC deals. We only do construction for bankable clients. People the banks would ...
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Houston:
45.0 %
“Their credit report reads like a horror novel, but the house was just renovated and is worth a lot…”
Here’s what happens when life takes a wrong turn. A bad business venture. Workplace Injury. That divorce that dragged on for two years. Suddenly your credit score looks like a batting average and the banks won’t even return your calls.
But here’s the thing – none of that changes what your ho...
Variable Income
Maximum Loan-to-Value (LTV) for Variable Income in Houston:
45.0 %
“Their income is all over the map, but there’s definitely income…”
Here’s a funny thing about lending based on Line 15000 of your Notice of Assessment: It’s a neat little box to underwrite against. Works great if you’re a salaried employee. Not so great if you’re running a fishing charter in Campbell River where thres fishing season, and the rest of the year.
We get it. Income isn’t always ti...
Bare Land and Unique Properties
Maximum Loan-to-Value (LTV) for Bare Land and Unique Properties in Houston:
45.0 %
“The appraisal came back as ‘property type: other’…”
Here’s a truth about real estate that nobody wants to admit: not everything fits in a box. Banks have boxes. Nice, tidy boxes labeled “single family home” and “condo” and “townhouse.” Their computer systems literally don’t have a dropdown menu option for “converted church with commercial kitchen” or “geodesic dome on 40 acres.”
We’ve funded...
Bridge Financing
Maximum Loan-to-Value (LTV) for Bridge Financing in Houston:
45.0 %
“Subjects came off their current home last week but their new place closes Friday…”
Here’s a funny thing about bridge financing: everyone thinks it’s complicated. It’s not. Someone needs to close on their new house before their old house sells. Or their sale fell through after they removed subjects on their dream home. Or they found the perfect downsizer condo but haven’t listed the family hom...
Equity Lending / Refinance
Maximum Loan-to-Value (LTV) for Equity Lending / Refinance in Houston:
45.0 %
“They have tons of equity but don’t qualify under B20…”
Here’s the thing about equity lending: it exists because banks literally can’t do it. B20 guidelines require income verification. Full stop. No wiggle room. No common sense exceptions.
We’re provincially regulated. The funds we lend on come from individual investors, not the Bank of Canada. So when your client has 50% equity but their in...
Purchases
Maximum Loan-to-Value (LTV) for Purchases in Houston:
45.0 %
Moving is supposed to be exciting. New town, new job, new chapter. So why do banks act like you’re asking for their firstborn when you need a mortgage?
“You haven’t been at your new job for thre months”
“Your self-employment income doesn’t count in a new market.”
“We need to see established a year if you are part time contract - even if you’re working 40 hours under your new role”
Meanwhile...