New Denver

Let’s talk about New Denver, British Columbia—a tiny gem tucked away in the Kootenay region that’s got more character than towns ten times its size. With a population hovering just under 500, this isn’t your typical bustling real estate hotspot, but that’s exactly why it’s worth a closer look if you’re a mortgage broker or a borrower hunting for unique opportunities. At Tekamar Mortgage Fund, we’re all about lending where others won’t, and New Denver fits our sweet spot of small-town charm with untapped potential.

What makes New Denver stand out? For starters, it’s nestled on the shores of Slocan Lake, surrounded by stunning mountains and trails that draw retirees and nature lovers looking for peace and quiet. Places like Centennial Park, right in the heart of town, offer a serene spot to unwind, while the nearby Valhalla Provincial Park is a hiker’s dream. This isn’t just scenery—it’s a lifestyle that adds real value to properties here. For borrowers, that means a home in New Denver could be your escape from the grind, even if your credit or income doesn’t check all the boxes for a traditional lender. And brokers, if you’ve got a client dreaming of a lakeside retreat, we’re the MIC that can make it happen with our focus on equity lending and flexible terms.

Now, let’s get practical. Housing here is mostly single-detached homes—about 84% of the market—which tells you this is a community built for privacy and space. But with a median household income under $50,000 and a higher-than-average unemployment rate, economic stability isn’t New Denver’s strong suit. That’s a red flag for some lenders, but not for us at Tekamar. We cap our loan-to-value ratio at 50% in New Denver to keep risks low, ensuring we’ve got a safe exit if things go sideways. For borrowers, this means we’re looking at the equity in your property more than your pay stub—perfect if you’re self-employed or rebuilding credit. Brokers, this is your chance to bring us deals that banks and credit unions turn away; we thrive on creative solutions in towns like this.

One thing to note: New Denver’s remote location and small size mean the buyer pool is limited. Properties can take longer to sell compared to a place like Kelowna, which is why we’re extra cautious with our LTV limits. But here’s the flip side—its unique vibe and natural beauty make it a niche market for the right buyer. I’ve seen deals in smaller BC towns where a property sat for months, only to be snapped up by someone who fell in love with the area’s quirks. For borrowers, that means patience is key if you’re planning a future refinance to pay us out. And brokers, let’s chat early about exit strategies to make sure your client’s deal aligns with our focus on recoverable investments.

At Tekamar, our tagline—“We’ll lend where other MICs won’t”—isn’t just a catchy phrase. We’ve been at this for over 20 years, focusing on smaller communities across BC (outside Vancouver and the Fraser Valley) with a keen eye on safety and compliance. Whether you’re a borrower needing a non-income-qualifying loan or a broker with an oddball property deal, New Denver is the kind of place we get excited about. Got a deal in mind? Let’s talk.