Merritt sits at the crossroads of five highways in British Columbia’s Nicola Valley, earning its unofficial title as the “Country Music Capital of Canada.” This isn’t just marketing fluff—the town has hosted its annual Mountain Music Festival for over three decades, drawing performers and visitors who appreciate both the acoustics and the scenery.
The numbers tell an interesting story about Merritt’s mortgage market. With 65% of homes being single-detached houses and a median age of 49.2 years, you’re looking at an established community where people put down roots. The 60% maximum LTV we offer here reflects the town’s solid fundamentals while acknowledging that Merritt isn’t Kelowna.
What makes Merritt different from other small BC towns? Location, location, and more location. Highway 5 (the Coquihalla) puts Vancouver just three hours away, while Highway 97C connects to Kamloops in under an hour. This accessibility has made Merritt a quiet favorite among retirees and remote workers who want small-town living without complete isolation.
The outdoor recreation here isn’t just good—it’s legendary. Over 200 lakes within a 90-minute drive have earned the region recognition as one of North America’s premier fishing destinations. Winter brings world-class snowmobiling, while summer offers hiking trails that don’t require a geology degree to navigate.
Tekamar’s equity-based lending, second mortgages, and debt consolidation products work well in Merritt’s market. The town’s economic base in healthcare, retail, and public services provides stability, even if the unemployment rate of 9.4% suggests some seasonal fluctuation. For brokers, Merritt represents the sweet spot of small-town lending—enough activity to generate opportunities, enough equity in properties to make deals work, and enough scenic beauty to ensure people actually want to live there.
The warming climate trend has extended the growing season, making the valley even more attractive to hobby farmers and gardeners who’ve discovered they can grow things here that their parents couldn’t.
the Nearest Costco
Our Mortgage Products Available in Merritt
| Mortgage Product Name | Max LTV | Key Notes for Merritt |
|---|---|---|
| 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 Merritt:
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 Merritt:
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 Merritt:
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 Merritt:
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 Merritt:
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 Merritt:
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 Merritt:
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...