Port McNeill

Let’s talk about Port McNeill, a small coastal gem on Vancouver Island’s northern edge that’s got more going for it than just a pretty view. Nestled in a spot where the forest meets the ocean, this town of just over 2,300 people is a quiet powerhouse of opportunity for those in the know. At Tekamar Mortgage Fund, we’re excited to lend here—unlike many MICs who stick to the big cities—and we’ve got a keen eye for what makes a place like this tick for both borrowers and brokers.

What sets Port McNeill apart? It’s not just the stunning access to whale watching or the nearby charm of Telegraph Cove—though those are big draws for lifestyle buyers and retirees looking for adventure. It’s also a hub for forestry and fishing, industries that anchor the local economy. That said, with nearly 20% of jobs tied to these resource sectors, there’s a bit of risk if markets dip. For borrowers, this means equity in your property is key when seeking alternative financing; for brokers, it’s worth noting that we cap our loan-to-value (LTV) at 55% here to account for slower resale timelines in a remote spot like this.

Why Port McNeill Works for Alternative Lending

Here’s the deal: Port McNeill isn’t Vancouver or even Kelowna, and that’s exactly why we’re interested. With our tagline, “We’ll lend where other MICs won’t,” we’re all about towns like this—places with character and potential, even if they don’t have a stoplight on every corner. The housing mix leans heavily toward single-detached homes, making up over 70% of properties. That’s a solid foundation for equity lending, especially for borrowers who might not qualify under strict bank rules but have a clear exit strategy. Brokers, if you’ve got a client with a unique property or a non-income-qualifying situation, give us a call—we love digging into these deals.

The Practical Side of Lending Here

Now, let’s get real about the risks and rewards. The remote location means foreclosure sales can take 6-9 months, longer than in urban centers. We factor that into every decision at Tekamar, ensuring we protect our investors (all friends and family, by the way) while still offering solutions. For borrowers, this means we’re cautious but fair—our max LTV of 55% reflects the market’s limited buyer pool. And brokers, this is where your expertise shines: if you can show us a deal with strong equity and a realistic refinance plan, we’re all ears.

A Place with Personality

Port McNeill has a vibe you won’t find in cookie-cutter suburbs. Think oceanfront trails and a community tight-knit enough to know your neighbor’s dog by name. It’s got appeal for those wanting to escape the rat race, which can drive niche demand for properties. For borrowers, that’s a chance to build equity in a unique market; for brokers, it’s an opportunity to partner with a lender like us who gets the quirks of small-town real estate.

So, whether you’re a borrower eyeing a slice of coastal life or a broker hunting for a MIC that’s not afraid of the road less traveled, Port McNeill—and Tekamar—has something to offer. We’re here to make deals happen, one small town at a time.