Masset

Ever been to a place so far off the beaten path that you feel like you’ve stumbled into a secret? That’s Masset, British Columbia, a small village on the northern edge of Haida Gwaii, where the ocean meets rugged wilderness, and life moves at its own pace. It’s not your typical mortgage market, but that’s exactly why we at Tekamar Mortgage Fund are intrigued. With our tagline, “We’ll lend where other MICs won’t,” we’re here to talk about why Masset matters for both borrowers and brokers looking for alternative financing solutions.

Let’s get real about Masset. This isn’t a bustling hub with skyscrapers or suburban sprawl. It’s a tight-knit community of just over 800 folks, surrounded by raw, natural beauty. Think endless beaches, world-class fishing, and a cultural depth tied to the Haida Nation that you won’t find anywhere else in BC. From a real estate perspective, this uniqueness is a double-edged sword. Properties here—mostly single-detached homes—appeal to a niche crowd, often retirees or lifestyle seekers drawn to the quiet and the scenery. But the remote location means a smaller buyer pool, especially if a property needs to move fast in a foreclosure scenario. That’s why our maximum loan-to-value (LTV) in Masset is set at a cautious 55%. We’re not saying no to lending here; we’re just playing it smart to protect our investors and ensure a safe exit strategy.

For borrowers in Masset, this LTV cap still opens doors that traditional banks might slam shut. Got equity in your home but don’t quite tick the income or credit boxes for a credit union? We specialize in equity lending and non-income qualifying loans, focusing on whether there’s a clear path to refinance down the road. And for brokers, this is your chance to bring us those unique deals. We’re not chasing cookie-cutter files in Vancouver or the Fraser Valley—give us something different, like a quirky property in Masset, and let’s talk.

What sets Masset apart isn’t just its isolation; it’s the lifestyle it offers. Ever heard of Tow Hill, a striking basalt cliff with panoramic views over the Pacific? Or the local fishing scene that draws anglers from across the country? These are the draws that make someone fall in love with a property here. But as a lender, we also see the flip side: an economy leaning heavily on health care and fishing, with a higher-than-average unemployment rate. That’s a risk factor we weigh carefully. Still, if the numbers work and the equity is there, we’re game to help make a deal happen.

Here’s a tip for brokers—when pitching us a Masset file, highlight the property’s appeal to niche buyers. Is it near prime fishing spots or boasting ocean views? That’s your selling point. For borrowers, remember that we’re looking at the big picture. A solid down payment and a realistic plan to pay us out can go a long way, even if your credit isn’t perfect.

At Tekamar, we’ve been at this for over 20 years, and we’re not afraid of small-town deals that other MICs might shy away from. Masset may be remote, but it’s got character—and for the right deal, we’re ready to step in. Whether you’re a broker with a creative file or a borrower needing a lender who gets “different,” let’s chat. After all, who needs stoplights when you’ve got opportunity?