Nakusp

If you’ve ever driven through the Kootenays, you might’ve stumbled across Nakusp, a small town of about 1,600 folks tucked along the Upper Arrow Lake. It’s not the kind of place that screams “real estate hotspot” at first glance, but stick with me—there’s more here than meets the eye, especially if you’re a mortgage broker or borrower looking for unique opportunities in British Columbia’s lesser-known corners.

What sets Nakusp apart? For starters, it’s got a vibe that’s hard to replicate. Think stunning lakeside views, access to hot springs (yes, the famous Nakusp Hot Springs are a local gem), and a tight-knit artsy community that draws retirees and lifestyle seekers. It’s the kind of spot where people move for the feeling—not the commute or the big-city buzz. That lifestyle appeal can translate into real estate value, even if it’s not Vancouver or Kelowna. For borrowers, this means a chance to own in a place with character, often at a price point that won’t make your eyes water. And for brokers, it’s a market where alternative lenders like us at Tekamar Mortgage Fund can step in when traditional banks shy away.

Let’s talk numbers, but I’ll keep it light. Housing here is mostly single-detached homes—about 80% of the market—which means lots of equity potential for the right property. However, Nakusp’s remote location and smaller population can make sales trickier in a pinch. That’s why we cap our loan-to-value (LTV) ratio at 55% in this area. We’re cautious, sure, but we’re also game to lend where others won’t. As a borrower, that means you’ve got a shot at financing even if your deal doesn’t fit the cookie-cutter mold—think equity lending or non-income qualifying loans. Brokers, this is where you can bring us those creative deals; just give us a call to see if it fits our sweet spot.

Why Nakusp Matters for Real Estate

Nakusp isn’t without its challenges. The local economy leans on forestry and tourism, with a dash of agriculture, but unemployment hovers higher than average, and incomes aren’t exactly soaring. From a lending perspective, this flags some risk—our worst-case exit strategy assumes a sale could take 8-12 months, potentially at a discount. But here’s the flip side: the town’s natural beauty and recreational draw mean there’s always a buyer out there, especially for well-priced properties. I’ve seen deals in smaller towns like this turn around faster than expected when the right retiree or remote worker catches wind of a lakeside steal.

At Tekamar, our tagline is “We’ll lend where other MICs won’t,” and Nakusp fits that bill perfectly. We’re not chasing Vancouver high-rises; we’re here for towns without stoplights. Whether you’re a borrower with a dream of owning near the Arrow Lakes or a broker with a client who’s been turned down elsewhere, we’re open to the conversation. Our focus? Low LTV for safety, clear exit strategies, and sticking to residential deals—no commercial or multi-family here.

So, if you’re eyeing Nakusp, know this: it’s a hidden gem with quirks and risks, but also real potential. Got a deal in mind? Let’s chat. We’ve been at this for over 20 years, and we’re ready to help make it work.