Penticton

Let’s talk about Penticton, British Columbia—a gem of a town that’s got more going for it than just pretty lake views. Nestled between Okanagan and Skaha Lakes, this place has a vibe that screams “stay forever,” whether you’re a retiree sipping wine on a patio or a family looking for a tight-knit community with big-time charm. For mortgage brokers and borrowers alike, Penticton offers some unique opportunities in the real estate game, and at Tekamar Mortgage Fund, we’re excited to be part of it with our “We’ll lend where other MICs won’t” approach.

What sets Penticton apart from other BC spots? For starters, it’s got a warm climate—think long growing seasons and summers that beg for beach days at places like Okanagan Beach. That warmth isn’t just weather; it translates into lifestyle appeal. With a median age of 52 and a hefty chunk of seniors calling it home, the housing market here often caters to those downsizing or grabbing vacation properties. That’s a goldmine for brokers looking to place deals with clients who’ve got equity but maybe don’t tick every box for traditional lenders. And for borrowers, if you’re in that spot—say, your income doesn’t quite qualify with a bank—Tekamar’s equity lending focus could be your ticket, especially since we prioritize a clear exit strategy over rigid credit rules.

Now, let’s get practical. Penticton’s housing mix is diverse enough to keep things interesting. You’ve got single-detached homes making up a good chunk, but there’s also a solid number of low-rise apartments and row houses. This variety means options for different budgets and needs, whether you’re a borrower eyeing a fixer-upper or a broker hunting for a deal that fits our sweet spot. At Tekamar, we’re comfortable lending in Penticton up to a maximum LTV of 70%, though we often aim lower depending on the deal—think construction or second mortgages where risk tweaks our numbers. We’re cautious (gotta protect our friends-and-family investors), but we’re not scared off by smaller markets like this one.

Here’s a little insider tip: Penticton’s marketability is a big plus for us when we assess risk. Even in a worst-case scenario like foreclosure, properties here tend to move thanks to the town’s appeal to out-of-towners and retirees. Ever been to the Penticton Farmers’ Market on a Saturday? It’s buzzing with locals and tourists alike, a reminder of how much life this place has. That energy helps ensure a quicker resale if things go sideways. For brokers, that means confidence when submitting a deal to us; for borrowers, it’s reassurance that we’ve got a handle on the local scene.

Economically, Penticton isn’t a one-trick pony. Health care, retail, and tourism drive things, though I’ll be straight—unemployment at over 8% raises an eyebrow. Seasonal industries can be a rollercoaster. Still, for mortgage pros, that’s just another reason to lean on a lender like Tekamar who gets small-town dynamics and isn’t spooked by a bit of risk if the equity’s there. And borrowers, if you’ve got a property in mind but the banks are saying no, give your broker a nudge to chat with us—we thrive on deals others pass up.

So, whether you’re a broker looking for a reliable MIC partner or a borrower needing a creative solution, Penticton’s a market worth exploring. With Tekamar, you’ve got a lender who’s ready to dig into the deals that make sense, right here in the heart of the Okanagan. Let’s make it happen.