Kaslo

Ever driven through a small town in BC and thought, “Who even lives here?” Well, Kaslo, nestled on the shores of Kootenay Lake, might surprise you. This isn’t just another sleepy spot in the Kootenays—it’s a hidden gem with a quirky charm, a tight-knit community, and some real potential for savvy borrowers and mortgage brokers alike. Let’s dive into what makes Kaslo stand out and why Tekamar Mortgage Fund is keen to lend here (with a few caveats, of course).

First off, Kaslo’s got a vibe you won’t find in bigger BC hubs like Kelowna or Victoria. With just over 1,000 residents, it’s the kind of place where everyone knows your name—and probably your dog’s too. It’s got this old-school charm, with historic buildings dating back to its 1890s silver boom days. The SS Moyie, a restored sternwheeler docked right in town, is a local icon and a reminder of Kaslo’s past as a bustling hub. For anyone looking to buy or invest, that history adds a unique appeal to properties here—think character homes with stories baked into the walls. Borrowers, if you’re eyeing a fixer-upper with lake views, this could be your spot. And brokers, if your client’s dreaming of a lifestyle property, Kaslo’s got that in spades.

From a real estate perspective, Kaslo leans heavily on single-detached homes—about 85% of the housing stock. That’s great for families or retirees (and trust me, with a median age of 58, there’s no shortage of the latter). The lifestyle draw is huge—think mountain scenery, hiking trails, and direct access to Kootenay Lake for boating or fishing. For borrowers, that means resale potential stays solid, even if the local economy isn’t booming. Brokers, keep in mind that while demand exists, it’s a niche market—your client’s property needs to stand out to attract buyers if things go south.

Now, let’s talk numbers with Tekamar’s lens. We’re not like other MICs who stick to Vancouver or the Fraser Valley. Our tagline, “We’ll lend where other MICs won’t,” isn’t just a catchy phrase—it’s how we roll. In Kaslo, we’re open to lending with a maximum loan-to-value (LTV) of 55%. That’s lower than our cap of 70% in bigger towns like Vernon, but it reflects the reality of a smaller market. We’re all about safety—low LTVs mean we can recover funds if the worst happens, factoring in interest accrual and sale timelines. For borrowers, this means you’ve got to bring some equity to the table, but we’re flexible on income or credit hiccups where banks aren’t. Brokers, if you’ve got a deal with a clear exit strategy—like a future refinance—give us a call. We love equity lending and oddball properties, as long as the numbers work.

A quick heads-up on the local economy: Kaslo leans on tourism and forestry, with a side of retirees. Income levels are modest, and unemployment’s a bit high, so we’re cautious. But that lifestyle appeal? It keeps properties moving, even if it takes a bit longer than in urban centers. If you’re a borrower struggling with traditional lenders, we might be your lifeline for debt consolidation or credit repair. And brokers, we’re counting on you to bring us those unique Kaslo deals—let’s make it work together.

So, whether you’re dreaming of a quiet life by the lake or hunting for a lender who gets small-town BC, Kaslo—and Tekamar—might just be the perfect fit. Got a deal or a question? We’re all ears.