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A picture of the District municipality of Kitimat.

Kitimat

Lending guidelines for Kitimat, British Columbia

Max Loan To Value:
60%
Details
2021 Population
8,236
1.3% growth
Median Age
42
Median Household Income
$103,000
Land Area
239.28 Km²
34.4 people/km²
Employment Rate
56.3%
Avg Commute
15 min

Let’s talk about Kitimat, British Columbia—a town that’s got a gritty, industrial heartbeat but also some surprising quirks that make it stand out. Nestled in the northwest corner of BC, far from the urban sprawl of Vancouver, Kitimat is a place where resource industries reign supreme, and the landscape feels like it’s been carved straight out of a rugged adventure novel. For mortgage brokers and borrowers, this isn’t just another small town; it’s a unique market with specific challenges and opportunities that Tekamar Mortgage Fund is ready to tackle.

What makes Kitimat different? For starters, it’s a hub for big industrial projects like the BC LNG initiative, which pumps a lot of economic energy into the area. Manufacturing and construction dominate the job scene, with nearly a third of the workforce tied to these sectors. That means decent household incomes—higher than you might expect for a town of just over 8,000—but also a vulnerability to boom-and-bust cycles. As a lender, we at Tekamar see this as a calculated risk. We’re willing to lend here with a maximum loan-to-value (LTV) of 60%, provided the deal shows a clear exit strategy. For brokers, that means we’re a partner who gets the nuances of a resource-driven economy. For borrowers, it’s a chance to work with a lender who isn’t scared off by Kitimat’s remote vibe.

Housing here leans heavily toward single-detached homes—about 65% of the market—which tells you this is a place where people value space over high-density living. But the remote location and harsh winters mean it’s not everyone’s dream retirement spot. From a mortgage perspective, this can impact resale timelines if things go south. That’s why we’re extra cautious about equity and always crunch the numbers on how long it might take to recover funds in a worst-case scenario. Brokers, if you’ve got a client with a solid property but maybe a shaky credit history, let’s chat about equity lending options. Borrowers, if the banks have turned you down due to income or credit hiccups, we might still have a solution if your property’s value stacks up.

Kitimat also has a unique local flavor that’s worth a nod. The Haisla Nation’s cultural presence adds depth to the community, and spots like the Kitimat River are a draw for fishing enthusiasts willing to brave the elements. It’s not Whistler, but it’s got its own raw charm. For us at Tekamar, understanding these local dynamics helps us assess risk beyond just the spreadsheets.

Here’s the bottom line: Kitimat isn’t for every lender, but that’s exactly why Tekamar exists. With our tagline, “We’ll lend where other MICs won’t,” we’re here for the towns that don’t always get a second glance. We steer clear of Vancouver and the Fraser Valley, focusing instead on places like Kitimat where we can make a real difference. Brokers, if you’ve got a deal in a smaller BC community, give us a call—we thrive on these unique files. Borrowers, if you’re in Kitimat and need a lender who gets your situation, we’re ready to listen. Let’s work together to make things happen in a town that’s got more going on than meets the eye.

Our Mortgage Products Available in Kitimat

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