Kitimat sits where the Douglas Channel meets the Kitimat River, and if you know anything about BC’s industrial landscape, you know this town means business. Built from scratch in the 1950s to house Alcan’s aluminum smelter workers, Kitimat represents one of Canada’s most successful planned communities — a testament to what happens when you combine abundant hydroelectric power with serious industrial ambition.
The numbers tell a compelling story for mortgage professionals. With a median household income of $103,000 and 65% of homes being single-detached houses, Kitimat’s housing market reflects the earning power of its industrial workforce. Manufacturing drives nearly 20% of local employment, followed closely by construction at 15%, creating a foundation that’s weathered decades of economic cycles.
Here’s where it gets interesting for brokers: Kitimat isn’t just riding the resource wave — it’s positioned at the center of BC’s LNG boom. The town’s deep-water port and existing industrial infrastructure make it a natural hub for energy projects, which explains why construction employment runs so high. For borrowers who understand industrial towns, this represents opportunity.
The climate data reveals something unexpected — Kitimat’s moved up half a hardiness zone in recent decades, now sitting at 7b. That’s warmer than you’d expect for a northern BC industrial town, making it more livable than the stereotypes suggest. Add in world-class fishing, hiking, and genuine wilderness access, and you’ve got a community that works for people who appreciate both steady paychecks and outdoor adventure.
Tekamar lends in Kitimat with a maximum LTV of 60%, recognizing both the opportunities and realities of this specialized market. For brokers working with clients who understand resource communities — whether they’re moving here for work or refinancing existing properties — we’re equipped to help navigate deals that other lenders might find too niche.
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Our Mortgage Products Available in Kitimat
| Mortgage Product Name | Max LTV | Key Notes for Kitimat |
|---|---|---|
| Construction Mortgages | 60.0% | Standard product terms |
| Credit Repair and Debt Consolidation | 60.0% | Standard product terms |
| Variable Income | 60.0% | Standard product terms |
| Bare Land and Unique Properties | 60.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 60.0% | Standard product terms |
| Equity Lending | 60.0% | Standard product terms |
| Purchases | 60.0% | Standard product terms |
Detailed Mortgage Product Information
Construction Mortgages
Maximum Loan-to-Value (LTV) for Construction Mortgages in Kitimat:
60.0 %
“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 Kitimat:
60.0 %
“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 Kitimat:
60.0 %
“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 Kitimat:
60.0 %
“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/Fully Open Term
Maximum Loan-to-Value (LTV) for Bridge Financing/Fully Open Term in Kitimat:
60.0 %
“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
Maximum Loan-to-Value (LTV) for Equity Lending in Kitimat:
60.0 %
“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 Kitimat:
60.0 %
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...