Merritt

Ever driven through the heart of British Columbia and stumbled upon a town that feels like a hidden gem? Merritt, nestled in the Nicola Valley, is exactly that—a small community with big character. It’s not just another stop on Highway 5; it’s a place where rugged landscapes meet a tight-knit vibe, making it a unique spot for homeowners and investors alike. At Tekamar Mortgage Fund, we’re excited to talk about Merritt because, true to our tagline, “We’ll lend where other MICs won’t,” we see real potential here.

What sets Merritt apart from other BC towns isn’t just its stunning backdrop of rolling hills and river valleys—it’s the lifestyle. This is a haven for outdoor enthusiasts. Think fishing in the Coldwater River or hiking trails that’ll make you forget the daily grind. For borrowers looking to settle into a quieter life, or maybe snag a recreational property, Merritt offers a rare mix of affordability and natural beauty. And for mortgage brokers, this means deals with clients who want something different—properties that aren’t cookie-cutter suburban lots but have solid resale potential thanks to that small-town charm and retiree appeal.

Let’s talk real estate for a sec. Merritt’s housing market leans heavily on single-detached homes—about 65% of the stock—which tells you this is a place for families and folks wanting space. But with a median household income lower than the provincial average and unemployment hovering higher than ideal, traditional lenders might shy away. That’s where we come in. At Tekamar, we focus on equity lending, especially for those who don’t quite check the income or credit boxes at a bank. Our max loan-to-value (LTV) in Merritt is 55%, which reflects our cautious but open approach. We’re not here to over-leverage; we’re here to make safe, smart deals with a clear exit strategy. So, brokers, if you’ve got a client with equity in a Merritt property but a tricky financial story, give us a call—we thrive on these puzzles.

Another thing to note? Merritt’s economy has its quirks. Health care and retail keep things ticking, but forestry and ranching still play a big role, which can mean ups and downs. For borrowers, that might mean needing a lender who gets the ebb and flow of resource-based towns. For brokers, it’s a chance to partner with a Mortgage Investment Corporation like us, who isn’t scared off by smaller markets and understands the risks—and rewards—of lending outside the big city bubbles.

And let’s not forget local flavor. If you’ve ever grabbed a coffee at Kekuli Café, an Indigenous-owned spot with killer bannock, you know Merritt’s got heart. It’s these little touches that make the town stick with you. Whether you’re a borrower dreaming of a home near those wide-open spaces or a broker hunting for a lender who’ll say “yes” to a Merritt deal, we’re here to help make it happen.

Bottom line, Merritt is more than a pitstop—it’s a place with untapped potential for the right buyer or investor. At Tekamar, we’ve been lending in BC’s smaller towns for over 20 years, and we’re ready to work with you. Got a deal in mind? Let’s chat. We’re not just another MIC; we’re your partner in places others overlook.