Port Alice

Ever driven up to the northern tip of Vancouver Island and stumbled upon a place that feels like a secret? Port Alice, British Columbia, is one of those hidden gems. Nestled along the Neroutsos Inlet with Quatsino Sound at its doorstep, this tiny community of just over 700 people packs a unique punch for anyone eyeing real estate or lending opportunities. At Tekamar Mortgage Fund, we’re all about finding value where others might not look, and Port Alice fits that bill with its rugged charm and untapped potential.

What makes Port Alice stand out in the crowded BC landscape? For starters, it’s not your typical small town. Surrounded by dense forests and pristine waters, it’s a haven for outdoor enthusiasts—think fishing, kayaking, or just soaking in views that could rival any postcard. The local Rumble Beach is a quiet spot where you can hear the waves crash without a crowd in sight. But beyond the scenery, there’s a lifestyle appeal here, especially for retirees or vacation home seekers. With a median age of nearly 59, the community leans toward a slower pace, and over 33% of residents are seniors looking for that peaceful escape. For mortgage brokers, this means a niche market for second homes or downsizing deals. And for borrowers, if you’re dreaming of a quiet retreat and don’t quite fit the bank’s rigid income boxes, our equity lending focus might be your ticket.

Let’s talk numbers—without drowning in them. Housing here is a mix of single-detached homes (over half the market) and row houses, with a smattering of low-rise apartments. It’s not a sprawling metropolis, so inventory can be tight. That’s a double-edged sword: limited supply can mean steadier values, but it also stretches out sales timelines if things go south. At Tekamar, we cap our loan-to-value (LTV) at 60% in Port Alice for exactly this reason. We’ve crunched the numbers on worst-case exits, and with a small buyer pool, it could take 6-9 months to sell—possibly at a 15-25% discount. That’s why we’re picky about the deals we take on, ensuring there’s a clear refinance path down the road. Brokers, if you’ve got a solid equity play here, give us a call to chat specifics. Borrowers, we’re open to creative solutions like credit repair or debt consolidation if the numbers make sense.

Economically, Port Alice has its challenges. High unemployment and a reliance on manufacturing and forestry mean the local economy can wobble. But that’s where our niche shines. We’re not scared off by smaller towns—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 places outside the Vancouver bubble. Unlike most MICs chasing urban deals, we’re happy to dig into communities like this one, balancing risk with low LTVs for safety.

So, why Port Alice? It’s not just about the stunning views or the chance to spot wildlife from your porch. It’s about opportunity in a place that’s often overlooked. For brokers, it’s a chance to partner with a lender who gets small-town dynamics. For borrowers, it’s working with a team that looks at equity and exit strategies, not just credit scores. If you’ve got a deal or a dream in Port Alice, let’s talk. We’re here to make it work.