# Tekamar Mortgage Fund

> Tekamar Mortgage Fund is a Mortgage Investment Corporation (MIC) based in Salmon Arm, British Columbia, Canada. Founded in 1979, we provide short-term private mortgage lending across 126+ BC communities outside Vancouver and the Fraser Valley. Rates range from 7-12%, with best available rates starting at 8.4%.

Tekamar is not a bank. We are a provincially regulated Mortgage Investment Corporation (MIC) that pools private investor capital to fund mortgages. Because our funds come from private investors rather than the Bank of Canada or bond markets, we can use common-sense, equity-focused underwriting instead of rigid federal (OSFI) guidelines. The trade-off is higher rates than banks, but faster decisions and more flexibility.

Our lending is designed as bridge financing: typically 1-2 year terms to help borrowers fix their mortgage situation, then transition back to traditional bank rates. We do not do long-term mortgages.

## Key Facts

- **Founded:** 1979 (originally as Tekarida in the Shuswap region)
- **Headquarters:** Salmon Arm, BC (P.O. Box 1903, V1E 4P9)
- **Phone:** 250-804-4253
- **Website:** https://tekfund.ca/
- **Lending Area:** All of British Columbia except Vancouver and the Fraser Valley
- **Communities Served:** 126+ (see full list at /communities)
- **Rate Range:** 7-12% (best available from 8.4%)
- **Maximum First Mortgage:** $1,000,000
- **Maximum Second Mortgage:** $250,000
- **Typical Maximum LTV:** 65% (varies by region)
- **Commercial LTV Cap:** 60%
- **Broker Fee:** 100 basis points (1%), paid directly on funding
- **Decision Speed:** Under 4 hours target, 1 business day turnaround
- **Renewal Fees:** None
- **Regulation:** Provincial (not federal/OSFI)

## Rate Tiers

- **Under 50%**: First position 8.4%, Second position 9.4%, Inter alia 8.5%
- **50-65%**: First position 8.75%, Second position 9.75%, Inter alia 8.85%
- **Over 65%**: First position 9.75%, Second position 10.75%, Inter alia 9.85%

*Rates shown are starting rates and subject to underwriting.*

## Mortgage Products

- [Equity Lending](https://tekfund.ca/mortgage_products/equity-lending): Plenty of equity, but just not quite enough income to support your client's mortgage needs? No worries. If it makes sense, we'll review it.
- [Variable Income](https://tekfund.ca/mortgage_products/variable-income): Your clients make the money, but just can't quite show it to meet B20 lending guidelines? Self employed but not claiming it personally? No worries. We're not quite as stickler about their Line 15000.
- [Credit Repair And Debt Consolidation](https://tekfund.ca/mortgage_products/credit-repair-and-debt-consolidation): Bad luck (or poor choices) can happen to anyone. We get it. That doesn't mean your clients shouldn't have a home. If there's a plan to fix it, we're happy to consider lending - regardless of the FICO score.
- [Purchases](https://tekfund.ca/mortgage_products/purchases): Standard purchase financing for properties in rural BC. Quick approvals and common-sense underwriting for your straightforward purchase deals.
- [Bridge Financing/Fully Open Term](https://tekfund.ca/mortgage_products/bridge-financing): Buying a house on the first but need the money two weeks beforehand? Sale on existing home collapsed at the last moment? Just want to know they can move before selling? We can help with that.
- [Bare Land And Unique Properties](https://tekfund.ca/mortgage_products/bare-land-or-odd-properties): Private island with no ferry access? Some unserviced bare land just outside of Kelowna? If the LTV matches the risk of the days on market, we have no issues with putting a mortgage on just dirt.

## Pages

- [Home](https://tekfund.ca/): Main landing page
- [For Brokers](https://tekfund.ca/brokers): How we work with mortgage brokers, quick summary of lending parameters
- [For Borrowers](https://tekfund.ca/borrowers): How we work with borrowers, products overview
- [Mortgage Products](https://tekfund.ca/mortgage_products): Full product catalog with lending guidelines
- [Current Rates](https://tekfund.ca/interest_rates): Published rate tiers by LTV, fee structure, risk adjustment factors, market rate comparison
- [Understanding Our Rates](https://tekfund.ca/understanding_rates): How we price deals differently than Vancouver MICs, Bank vs MIC comparison table
- [Where We Lend](https://tekfund.ca/communities): Map and list of 126+ BC communities with per-community LTV limits
- [True Bridge Loans](https://tekfund.ca/true-bridge): Buy-before-you-sell bridge loan product
- [FAQ](https://tekfund.ca/faq): 16 categorized questions covering lending areas, rates, broker info, and how MICs work
- [About Us](https://tekfund.ca/about): Company history since 1979, team bios, FAQ section
- [Contact](https://tekfund.ca/contact): Contact form and phone number
- [Rate Quote Tool](https://tekfund.ca/rate_quotes/new): Quick online rate estimate calculator (under 2 minutes)

## How Pricing Works

Tekamar prices each mortgage individually based on four factors: property location, loan-to-value ratio, borrower profile, and property condition. The best available rate starts at 8.4% for first-position mortgages under 50% LTV. Rates increase with higher LTV, second-position mortgages, rural locations, and higher-risk borrower profiles. Lender fees can be capitalized to lower the interest rate for rate-sensitive borrowers while keeping the same APR.

## How MICs Differ From Banks

| Factor | Traditional Bank | Tekamar MIC |
|---|---|---|
| Typical Rate | 4-6% | 7-12% |
| Rural BC Lending | Limited | Province-wide (outside Vancouver/Fraser Valley) |
| Decision Speed | Weeks | Under 4 hours (target) |
| Approval Basis | Income & credit focused | Equity & property focused |
| Typical Term | 5+ years | 1-2 years |
| Renewal Fees | Varies | None |
| Regulation | Federal (OSFI) | Provincial |

## Optional

- [Privacy Policy](https://tekfund.ca/privacy)
- [Terms and Conditions](https://tekfund.ca/terms_and_conditions)
- [Documents](https://tekfund.ca/documents): Published articles and resources
- [Sitemap](https://tekfund.ca/sitemap.xml.gz)