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Adams River near Kamloops, BC

The Real Talk

Let's Talk About Rates

Ah rates, a client's first concern. Oh, but some flexibility would be good. Did they mention their consumer proposal? How about the fact that the nearest stop light is 45 minutes away?

If you're reading this, your clients probably aren't getting prime-minus anything for this particular deal.

Tekamar Mortgage Fund is a MIC. Our source of funds are private investors, not the Canadian bond market. Our cost of funds are more expensive. We price based on a base cost of funds plus deal-specific risk.

Our Pricing Foundation

  • → Our current target rate is 9.5%. See our rates
  • → We increase based on risk, decrease based on strength
  • → We'll happily use lender fees to adjust the deal APR

Market Reality

Why Are Your Rates Higher Than Other Vancouver MIC™?

Tekamar is different than other MICs mostly due to our lending areas. We'll lend in much riskier areas with significantly higher days on market. To achieve this, our investors require a higher return on investment, so our target APR is higher than many MICs.

Because we price on risk, if you've got a deal that's strong or in a lower risk (larger population area), give us a shot and we'll do our best to compete. Our target is 9.5% based on the types of deals we see most often.

Pro Tip: Strong deals in larger centers? We can often match urban MIC rates. Rural or unique situations? That's where our expertise shines.

Avoiding Sticker Shock

"My client is rate sensitive" – no worries. Have you talked to them about lender fees? We can (and regularly do) capitalize a lender fee and just lower the interest rate.

Example That Works:

A 7.88% rate with a 1.37% lender fee is often more appealing to clients than 8% with a 1% lender fee. Makes no difference to us.

What About My Specific Deal?

When each deal we lend on is unique, it's hard to give a definitive price. Sure we've got a target APR, and will often be able to quote you a rough estimate if you call us, but if you want a definitive rate, send the deal in on Velocity/Expert etc and we'll give you an exact number based on credit and property location.

View Current Rates Get a Quick Quote

Ready to Send Us a Deal?

Either give us a call to go over the specifics, or send it through your favourite digital submission platform.

View Rate Calculator Call Us: 250-804-4253