Logan Lake

Let’s talk about Logan Lake, British Columbia—a small town with a big personality, tucked away in the southern interior. If you’re picturing just another sleepy spot off the highway, think again. This place has a unique vibe that makes it stand out for anyone in the mortgage game, whether you’re a broker hunting for the right lender or a borrower looking for a creative financing solution. At Tekamar Mortgage Fund, we’re all about lending where others won’t, and Logan Lake fits our sweet spot perfectly.

First off, what makes Logan Lake tick? It’s a tight-knit community of just over 2,000 folks, many tied to the mining industry, which drives a hefty chunk of the local economy. That’s a double-edged sword—mining brings stability, but it also means the town’s fortunes can swing with the industry. For brokers, this is a heads-up: when you’re structuring a deal here, dig into the borrower’s employment history. A sudden mine slowdown could tighten their cash flow. And for borrowers, if your income’s tied to this sector, let’s chat about building a buffer into your mortgage plan with a clear exit strategy—something we prioritize at Tekamar.

But it’s not all about economics. Logan Lake has a lifestyle appeal that’s hard to beat, especially for retirees or those craving a slower pace. With stunning natural surroundings, it’s a haven for hiking, biking, and fishing. Ever heard of Maggie Lake? It’s a local gem for a quiet afternoon by the water. That outdoor charm adds real value to properties here, even if the market isn’t as hot as Kelowna or Vernon. For borrowers eyeing a home in Logan Lake, that means you’re buying into a lifestyle, not just a house. Brokers, highlight this to clients—it’s a selling point that can justify a deal, even with a max loan-to-value (LTV) of 55% from us at Tekamar.

Speaking of lending, let’s get practical. Our niche is small-town BC, and Logan Lake is exactly the kind of place we love. We cap our LTV at 55% here, lower than the 60-70% you might see in bigger centers, because we’re laser-focused on safety. Smaller markets can take longer to sell in a pinch, and we account for that in our risk assessment. If the worst happens—foreclosure or otherwise—we need to know we can recover funds without losing principal for our investors. That’s non-negotiable. So, brokers, when you bring us a deal, make sure the numbers stack up conservatively. And borrowers, if you’ve got equity but don’t quite qualify with a bank due to income or credit hiccups, we’re your kind of lender—just show us a path to refinance down the road.

One more thing: Logan Lake’s housing mix leans heavily on single-detached homes, over 60% of the market. That’s gold for stability but limits options for multi-family or commercial plays. We don’t touch those anyway—our focus is equity lending on residential properties, odd lots, or bare land. Got a unique property near the Logan Lake Golf Club? Let’s talk. Brokers, this is where you can shine by spotting those offbeat deals. Borrowers, if the big banks turned you down, we might just say yes.

So, whether you’re navigating a mortgage as a borrower or crafting the perfect deal as a broker, Logan Lake is worth a closer look. It’s got quirks, sure, but also untapped potential. And with Tekamar’s tagline—“We’ll lend where other MICs won’t”—we’re ready to roll up our sleeves and make it work.