Stewart

Ever driven to the edge of nowhere and found something worth sticking around for? That’s Stewart, British Columbia, a tiny town of just over 500 souls tucked away near the Alaska border. It’s not your typical mortgage market, but for those of us at Tekamar Mortgage Fund, it’s exactly the kind of place we love to work in—small, unique, and often overlooked by the big players. Let me tell you why Stewart matters if you’re a mortgage broker hunting for creative lending solutions or a borrower needing a lender who gets “unconventional.”

First off, Stewart isn’t your average small town. It’s got a rugged charm, surrounded by jaw-dropping scenery like the Salmon Glacier Viewpoint, a spot that could convince even the most urban soul to pack up and move. This natural beauty gives it a niche appeal, especially for retirees or outdoor enthusiasts looking for a quieter life. For brokers, that means potential clients with equity in oddball properties or bare land who can’t quite fit the mold at traditional banks. And for borrowers, if you’ve got a dream of owning a slice of this wilderness, we’re the kind of lender who’ll listen—provided the numbers make sense, of course.

From a lending perspective, Stewart’s housing market is as straightforward as it gets—mostly single-detached homes, with very little in the way of apartments or duplexes. That simplicity can be a double-edged sword. On one hand, it’s easy to appraise and understand the collateral. On the other, the remote location and a harsh climate (think long winters in Plant Hardiness Zone 6b) can shrink the buyer pool if things go south. At Tekamar, we cap our loan-to-value ratio at 55% here for a reason. We’re cautious, factoring in an 8-10 month exit timeline in a worst-case scenario, often with a discount of 15-25% to move a property. Brokers, that’s your heads-up to structure deals with plenty of equity cushion. Borrowers, it means we’re looking at your property with a sharp eye to ensure we can all sleep at night.

Economically, Stewart leans on industries like mining, construction, and transportation, with a deep-sea port that keeps some trade flowing. But with a high unemployment rate, there’s fragility here. If you’re a broker, you’ll want to dig into a client’s income stability before pitching us a deal—exit strategies matter to us. For borrowers, know that we’re big on equity lending, especially when income or credit doesn’t check all the boxes at a credit union. We just need to see a clear path to refinance down the road.

What sets Stewart apart from other BC towns isn’t just its isolation—it’s the kind of place where community grit meets untamed beauty. Think less “suburban sprawl” and more “frontier outpost.” That’s why we at Tekamar, with our tagline “We’ll lend where other MICs won’t,” are game to step in. Most MICs stick to Vancouver or Kelowna, but we thrive in spots like this, as long as the deal’s safe.

So, whether you’re a mortgage broker with a tricky file or a borrower eyeing a cabin near Stewart’s wild edges, give us a shout. We’ve been at this for over 20 years, and we’re not afraid of a little frontier. Let’s make it work—together.