Salmo

Ever driven through a small town and felt like you’ve stumbled into a hidden gem? That’s Salmo, British Columbia, a tiny Kootenay community with a big personality. Nestled in the Selkirk Mountains, this place isn’t just about stunning views—though trust me, the scenery will stop you in your tracks. For mortgage brokers and borrowers, Salmo offers a unique slice of real estate opportunity, and at Tekamar Mortgage Fund, we’re excited to talk about why we lend here when others might hesitate.

First, let’s paint the picture. Salmo’s a tight-knit town of just over 1,100 folks, surrounded by endless outdoor playgrounds. Think hiking trails, fishing spots, and proximity to world-class skiing at places like Whitewater Ski Resort, just a short drive away. Then there’s the Shambhala Music Festival, a cultural juggernaut that draws thousands every summer, putting Salmo on the map for a younger, artsy crowd. It’s not Vancouver or Kelowna, and that’s exactly the point. This is small-town living with character—perfect for those looking to escape the urban grind or invest in a quieter corner of BC.

From a mortgage perspective, here’s what you need to know. Salmo’s housing market leans heavily on single-detached homes, making up over 70% of the properties. That’s a plus for stability—families and retirees often gravitate toward these types of homes, even if the buyer pool is smaller than in bigger centers. But here’s the catch: with a remote location and a median household income on the lower side, properties can take 6-9 months to sell in a worst-case scenario, sometimes at a discount. That’s why at Tekamar, we cap our loan-to-value (LTV) ratio at 55% in Salmo. We’re cautious, ensuring a safe exit if things go south, but we’re still in the game. For brokers, this means we’re a solid partner for clients who don’t fit the big-bank mold but have equity to work with. And for borrowers, it’s a chance to secure funding in a town where other lenders might shy away.

What sets Salmo apart for us at Tekamar? We love small towns—our tagline, “Your MIC for towns without stop lights,” isn’t just a catchy phrase. Unlike many BC Mortgage Investment Corporations fixated on Vancouver or the Fraser Valley, we focus on places like Salmo. We’re not chasing high-rises or commercial deals; we’re about equity lending for residential properties, especially for those who don’t check every box on a bank’s income or credit test. Got a client with a unique property or a less-than-perfect credit score, brokers? Give us a call—we prioritize a clear exit strategy over rigid rules. Borrowers, if you’ve got equity in a Salmo home and a plan to refinance down the road, we’re here to help make it work.

Now, a quick insider tip: Salmo’s market isn’t booming, and with higher-than-average unemployment, it’s not a speculative goldmine. But for the right buyer—say, someone eyeing a retirement spot or a festival-driven rental—it’s got appeal. We’ve seen deals here that make sense, especially when the numbers align with our conservative LTV approach. Brokers, if you’ve got a deal in mind, let’s chat about the specifics. And borrowers, know that we’re not just another lender—we’ve been at this for over 20 years, carefully sourcing funds from friends and family to keep every investment secure.

So, whether you’re a broker hunting for a lender who gets small-town BC, or a borrower dreaming of a home near the Kootenays’ best-kept secret, Salmo—and Tekamar—might just be your kind of place. Let’s talk about what’s possible.