Mission

Let’s talk about Mission, British Columbia—a town that’s got a certain quiet charm, tucked away in the Fraser Valley with a vibe that’s equal parts rugged and relaxed. It’s not the biggest spot in BC, nor the flashiest, but it’s got a story worth telling, especially if you’re in the mortgage game or looking to buy a home in a place that feels a bit off the beaten path. At Tekamar Mortgage Fund, we’re all about lending where others won’t, so let’s dive into what makes Mission tick from a real estate and lending perspective.

First off, Mission’s got a landscape that’s easy on the eyes. Nestled along the Fraser River with views of Mount Baker looming in the distance, it’s a spot where nature isn’t just nearby—it’s in your face. That scenery, paired with a milder climate (we’re talking Zone 8b for you green thumbs), means an extended growing season and a lifestyle that appeals to folks who want space to breathe. For borrowers, this could mean a property with a big backyard or even a small hobby farm—something unique compared to the tighter lots in bigger cities. And for brokers, it’s a reminder that Mission properties might attract niche buyers, even if the market isn’t as hot as Vancouver’s.

Housing here leans heavily toward single-detached homes—nearly 65% of the stock—which tells you this is a place for families or those craving elbow room. But here’s the rub: the market can be slower to move. If you’re a borrower eyeing a fixer-upper on a quiet street, that’s great, but know that flipping it fast might not be in the cards. For mortgage brokers sending us deals, this is why we’re extra cautious in Mission. Our focus at Tekamar is always on a safe exit strategy—how long would it take to recover funds if things go south? In Mission, with potential foreclosure timelines stretching past six months and properties possibly needing a discount to sell, we’ve set our maximum loan-to-value (LTV) at 0%. That’s right, we’re not lending here. It’s not personal—Mission’s a fine place—but other lenders know this turf better than we do.

Now, let’s chat economics for a sec. Mission’s got a decent mix of industries, with construction and retail leading the pack. That median household income of $98,000 isn’t bad, but there’s a reliance on government transfers that hints at some vulnerability. As a borrower, you might find affordable entry points into the market, but don’t expect rapid appreciation. Brokers, keep this in mind when pitching deals elsewhere in BC where we do lend—our sweet spot is towns with low LTVs (think 60% or less) and clearer exit paths, even if they’re small or quirky like those without stoplights.

One local gem worth a nod is the Mission Bridge—a historic crossing over the Fraser that’s been a lifeline for the community since the 1890s. It’s a reminder of Mission’s roots as a hardworking, no-frills town. That spirit still lingers, making it a spot for those who value grit over glitz. So, while we’re not lending in Mission, we’re still rooting for it. At Tekamar, our tagline is “We’ll lend where other MICs won’t,” and we’re eager to work with brokers and borrowers in other BC towns—from Vernon to Victoria—where we can offer equity lending, credit repair, or bridge loans with confidence. Got a deal outside the Fraser Valley? Give us a shout. We’re all ears.