Port Hardy

Ever driven to the northern tip of Vancouver Island and felt like you’ve hit the edge of the world? That’s Port Hardy for you—a rugged, remote gem that’s as far from Vancouver’s hustle as you can get without leaving BC. It’s a place where the ocean meets untamed wilderness, and for those of us at Tekamar Mortgage Fund, it’s exactly the kind of community we love to support. We’re not chasing big-city deals; our tagline, “We’ll lend where other MICs won’t,” means we’re here for towns like this one. Let’s dive into what makes Port Hardy unique from a mortgage and real estate perspective.

First off, Port Hardy isn’t your typical BC small town. Perched at the end of Highway 19, it’s a gateway to some of the best fishing, hiking, and bear-watching spots in the province—think Cape Scott Provincial Park, where trails lead to windswept beaches that’ll take your breath away. This isn’t just a postcard pitch; that natural beauty draws adventure seekers and retirees alike, creating a niche but steady demand for housing. For borrowers looking to settle or invest here, that’s a quiet opportunity. And for brokers, it means working with a lender like us who gets the appeal of these off-the-beaten-path markets.

From a lending standpoint, Port Hardy’s housing market is practical and grounded. Over half the homes are single-detached, with a decent mix of apartments and row houses for those not ready to mow a lawn forever. But here’s the catch: its remoteness and economic fragility—think higher-than-average unemployment and a reliance on industries like fishing and forestry—mean not every lender wants to play ball. At Tekamar, we’re different. We’ll consider deals here with a maximum loan-to-value (LTV) of 60%, ensuring a safe exit if things go sideways. That’s our sweet spot—balancing risk with opportunity. Brokers, if you’ve got a client who’s been turned down elsewhere, give us a call to see if the numbers work. Borrowers, if you’ve got equity but don’t tick the usual income or credit boxes, we might be your answer.

What else sets Port Hardy apart? It’s not just the scenery; it’s the vibe of a tight-knit community that’s had to adapt after losing big employers like the Island Copper Mine years back. That resilience matters when we assess deals—locals know how to make things work, even when the economy wobbles. But let’s be real: in a foreclosure scenario, selling a property here could take longer than in, say, Kelowna. That’s why we’re sticklers for low LTVs and a clear exit strategy, whether it’s a refinance down the road or another plan to pay us out. For borrowers, that means we’re not just throwing money at you—we’re thinking long-term. Brokers, it’s why we need your best equity-lending deals, not pie-in-the-sky projects.

Here’s the bottom line: Port Hardy is for those who crave space and solitude over urban amenities. It’s not for everyone, and that’s exactly why we’re interested. At Tekamar, we’ve been lending in BC’s smaller towns for over 20 years, focusing on equity-based deals like first and second mortgages, credit repair, or bridge loans. No commercial or multi-family files, though—just good, solid residential deals. So, whether you’re a broker with a unique client or a borrower dreaming of a home near the edge of the world, let’s talk. Port Hardy might just be the start of something great.