Sicamous

If you’ve ever driven through the Shuswap region of British Columbia, you’ve likely passed through Sicamous. But let’s be honest—did you stop? Most people don’t. They’re too busy racing toward the Okanagan or the Rockies. And yet, this little town of just over 2,600 souls has a quiet charm that’s worth a second look, especially if you’re in the mortgage game or hunting for a unique property deal. At Tekamar Mortgage Fund, we see Sicamous as a hidden gem for alternative lending, and we’re here to tell you why.

First off, Sicamous isn’t your typical BC hotspot. It’s not Kelowna with its bustling wineries or Vernon with its growing urban sprawl. No, Sicamous is the self-proclaimed “Houseboat Capital of Canada,” nestled between Mara and Shuswap Lakes. That’s not just a cute tourism slogan—it’s a real draw for retirees and vacation home buyers who want a slice of four-season paradise. Think houseboating in summer, snowmobiling in winter, and jaw-dropping lake views year-round. For mortgage brokers, this means a niche market of buyers who might not fit the cookie-cutter bank mold but have equity to play with. And for borrowers? If you’re eyeing a quirky lakefront cabin or a seasonal property here, we’re the MIC that’s willing to chat.

What sets Sicamous apart from other small BC towns is its lifestyle appeal, even with a modest population. The housing mix leans heavily toward single-detached homes—over 60% of the market—which tells you this is a place for folks wanting space and scenery over high-density living. But here’s the catch: with a median household income on the lower side and an unemployment rate that’s a bit of a red flag, traditional lenders often shy away. That’s where Tekamar steps in. We’re not scared off by smaller markets. Our tagline, “We’ll lend where other MICs won’t,” isn’t just talk. We’re comfortable in towns without stoplights, and Sicamous fits that bill. Our max loan-to-value (LTV) here is 55%, which reflects the unique risks of a seasonal, tourism-driven economy. We’re cautious, but we’re not closed off.

For brokers sending us deals, know that we’re laser-focused on equity lending. Got a client who doesn’t quite pass the income test at a credit union but has solid equity in a Sicamous property? Let’s talk exit strategies—how can they refinance down the road to pay us out? And for borrowers reading this, if your credit’s taken a hit or your income’s unconventional, we’re open to looking at your situation as long as the numbers make sense. We’ve been at this for over 20 years, sourcing funds from friends and family, so protecting principal is non-negotiable for us.

A quick local nod: if you’re ever in Sicamous, swing by the D Dutchmen Dairy for a cone. It’s a small-town rite of passage, and it’s a reminder of the community vibe here—tight-knit and unpretentious. That’s the kind of place we love to lend in. Unlike most MICs fixated on Vancouver or the Fraser Valley, we avoid those areas entirely. Sicamous, with its slower pace and unique appeal, is exactly our kind of market.

So, whether you’re a broker with a tricky file or a borrower dreaming of a lakeside retreat, Sicamous might just be your sweet spot. And Tekamar? We’re the lender ready to make it happen—safely, sensibly, and with a clear path forward. Drop us a line. Let’s see what we can build together in this underrated corner of BC.