Parksville

Let’s talk about Parksville, British Columbia—a coastal gem on Vancouver Island that’s got more going for it than just postcard-worthy beaches. Nestled between Nanaimo and Qualicum Beach, this small town of about 13,000 punches well above its weight when it comes to lifestyle and real estate appeal. At Tekamar Mortgage Fund, we’re excited to lend here, and I’m betting you’ll see why it’s a smart spot for both borrowers and brokers to consider.

What sets Parksville apart? For starters, it’s a retiree haven with a median age of 62, which means a stable, low-turnover housing market. Over 44% of the population is 65 or older, and they’re drawn here for the relaxed pace, mild (if chilly) climate, and natural beauty. Think endless walks on Rathtrevor Beach Provincial Park, where the tide pulls back to reveal massive sand flats, or the annual Parksville Beach Festival, famous for its world-class sandcastle competition. These aren’t just cute quirks—they signal a community with serious “vibes” that keep property values resilient. For borrowers looking to buy or refinance here, that desirability translates to a safer bet on equity. And for brokers, it means deals in Parksville often have a built-in exit strategy—our worst-case foreclosure timeline pegs a sale at near-market value within three months.

Now, let’s get practical. Housing in Parksville leans heavily toward single-detached homes—about 60% of the stock—which fits our lending sweet spot at Tekamar. We’re all about equity lending, especially for folks who might not tick every box for traditional bank financing due to income or credit hiccups. Got a client with a solid down payment on a quirky property or needing a bridge loan? We’re game, with a maximum loan-to-value ratio of 60% in Parksville. That’s not a random number; it’s calculated to ensure we can recover funds even if the market softens. Our niche is clear exits, so we’ll work with borrowers to map out a refinance plan down the road. Brokers, if you’ve got a deal that’s been turned down elsewhere, give us a call—we thrive on saying yes where others hesitate.

Economically, Parksville isn’t riding on one shaky industry. Health care, retail, and tourism (think accommodation and food services) form a diverse base, with proximity to Nanaimo adding a buffer. This matters. When we assess risk, we’re not just looking at the property—we’re eyeing the whole picture. A town with steady employment means fewer defaults, and even in a worst-case scenario, we project a sale within 4-5 months, maybe with a small discount. For borrowers, that stability should give you confidence to invest here. Brokers, it’s one less worry when pitching a deal to us.

Here’s the Tekamar difference: while many MICs chase big-city deals in Vancouver or the Fraser Valley, we don’t touch those areas. Our tagline, “We’ll lend where other MICs won’t,” isn’t just talk. We’re focused on smaller towns and unique markets like Parksville, as long as the numbers make sense. Founded over 20 years ago, we’ve built trust by protecting our friends-and-family investors’ capital, sticking to strict KYC and FINTRAC rules. So, whether you’re a borrower needing a non-income-qualifying loan or a broker hunting for a reliable partner, we’ve got your back.

Parksville isn’t just another coastal stop—it’s a market with legs. If you’re eyeing a property here or have a client who is, let’s chat. We’re ready to make deals happen where others might pass.