Terrace

So, let’s talk about Terrace, British Columbia—a small city with a big personality, tucked away in the stunning Skeena Valley. It’s not just another northern town; it’s a place where rugged natural beauty meets a surprisingly resilient local economy. If you’re a mortgage broker scouting unique markets for your clients, or a borrower looking for a lender who gets small-town dynamics, Terrace is worth a closer look—and so are we at Tekamar Mortgage Fund.

First off, what makes Terrace stand out? It’s got this incredible mix of outdoor adventure and tight-knit community vibes. Think world-class skiing at Shames Mountain, just a short drive away, or hiking trails that’ll make you forget the daily grind. The town itself has gems like the Terrace Aquatic Centre, a hub for families and fitness buffs alike. For real estate, this translates to a lifestyle draw—people aren’t just buying homes here; they’re buying into a way of life. That’s a selling point for brokers pitching to clients, and for borrowers, it means properties can hold value even in a smaller market.

Now, let’s get practical. Housing in Terrace leans heavily toward single-detached homes—about 60% of the market—which tells you this is a place for families or folks wanting space. But there’s also a decent mix of row houses and low-rise apartments, so there’s room for variety in deal types. At Tekamar, we’re game to lend on these properties with a maximum loan-to-value (LTV) of 60% in Terrace. That’s our sweet spot for balancing risk and opportunity in smaller communities. Brokers, this gives you flexibility to structure deals; borrowers, it means we’ve got your back if equity is your strong suit, even if income or credit isn’t picture-perfect.

Here’s an insider tip: Terrace’s economy has a backbone in health care and retail, but it still feels the pulse of forestry. With only one sawmill running, there’s a lingering risk if resource industries wobble. As a lender, we factor this into our risk assessment—low LTVs are our safety net. For brokers, that’s a heads-up to dig into a client’s long-term stability when pitching deals here. And borrowers? If you’ve got a solid exit strategy—like a refinance plan—we’re all ears.

What else? Terrace has a warming climate trend, which sounds odd to mention in a mortgage piece, but hear me out. A longer growing season and milder winters make it more appealing for retirees or seasonal residents. That’s potential demand for properties, which matters when we’re evaluating how quickly a property could sell if things go sideways. It’s the kind of detail we chew on at Tekamar, because protecting our investors—friends and family, mind you—is non-negotiable.

Look, we’re not like every other MIC out there chasing Vancouver or Fraser Valley deals. Our tagline, “We’ll lend where other MICs won’t,” isn’t just catchy—it’s our mission. Terrace fits our niche perfectly: smaller towns, big potential, low-risk LTVs. So, brokers, if you’ve got a deal in Terrace that needs a creative lender, give us a call. And borrowers, if you’re feeling stuck with traditional banks, let’s chat about how your equity can work for you. Terrace isn’t just a place to live—it’s a place to invest, and we’re here to help make it happen.