Princeton

So, let’s talk about Princeton, British Columbia—a small town with a big personality tucked away in the Similkameen Valley. It’s not your typical urban hotspot, and that’s exactly why it’s worth a closer look if you’re a mortgage broker hunting for unique lending opportunities or a borrower seeking a lender who gets small-town dynamics. At Tekamar Mortgage Fund, we’re all about finding value where others might not even glance, and Princeton fits that bill with our tagline, “We’ll lend where other MICs won’t.”

First off, what makes Princeton stand out? It’s a tight-knit community of just under 3,000 folks, surrounded by rugged hills and the kind of quiet that city dwellers dream about. This isn’t a place for high-rises or sprawling suburbs—over 66% of homes here are single-detached, with a surprising chunk of movable dwellings at 16%. That mix tells you something about the lifestyle: independent, a bit offbeat, and often tied to the land. For brokers, this means deals might involve unique properties—think bare land or quirky setups—that don’t fit the cookie-cutter mold of big-city lenders. And for borrowers, if your property or credit story doesn’t scream “mainstream,” we’re the kind of MIC that listens, especially with our focus on equity lending.

Now, let’s get real about the numbers without drowning in stats. Princeton’s housing market isn’t flashy, but it’s steady for the right buyer. With a median household income on the lower side and an unemployment rate hovering around 11%, economic risks are part of the picture. That’s why our maximum loan-to-value (LTV) here is capped at 50%. We’re cautious—our investments come from friends and family, so protecting principal is non-negotiable. But that low LTV also means safety for us and a clear path for you, whether you’re a broker structuring a deal or a borrower needing a creative solution like debt consolidation or credit repair. We always look for a solid exit strategy, like a future refinance, to keep everyone on firm ground.

What else sets Princeton apart? It’s got a rugged charm with spots like the historic Princeton Castle Resort ruins—a quirky piece of local lore—and access to outdoor gems like China Ridge Trails for hiking or skiing. These aren’t just fun facts; they’re part of the lifestyle appeal that can draw buyers, even if it might take 6-8 months to sell a property here at a moderate discount. For brokers, that timeline is something to factor into deal planning. For borrowers, it’s a reminder that we assess every deal with eyes wide open, ensuring we can recover funds if the worst happens.

Here’s the kicker: Princeton’s economy leans hard on mining, with nearly 20% of jobs tied to it. That’s a double-edged sword—stable when times are good, shaky when they’re not. We get that at Tekamar. Unlike MICs fixated on Vancouver or the Fraser Valley, we’re comfortable in smaller towns like this, adjusting our approach to match the risks. So, if you’re a broker with a client in Princeton who’s been turned down elsewhere, give us a call—we thrive on these off-the-radar deals. And borrowers, if you’ve got equity but not the perfect credit score, we’re here to talk solutions.

Bottom line? Princeton is a hidden gem with challenges and charm in equal measure. At Tekamar, we see the potential where others don’t, and we’re ready to partner with you to make things happen. Let’s chat about your next deal in this little corner of BC.