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Fort Smith Mortgage Information

Average Mortgage Loan in Fort Smith: $129,333

How Fort Smith Ranks in Northwest Territories for Mortgage Business

The following table lists how Fort Smith ranks for mortgage applications sent to our website. The data collected is over a 7-year time frame. A location has to have a minimum of three applications to make the list. To find more information, simply click on a location.

RankLocation Contribution
1YELLOWKNIFE, NT 0.334%
2INUVIK, NT 0.047%
3HAY RIVER, NT 0.043%
4FORT SMITH, NT 0.016%
5BEHCHOKO, NT 0.010%
6FORT SIMPSON, NT 0.010%
7NORMAN WELLS, NT 0.007%
8TUKTOYAKTUK, NT 0.005%
9WHATI, NT 0.005%

Types of Mortgage Inquiries Received from Fort Smith


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Refinance / Debt Consolidation: 33.3%
Mortgage Pre-approval: 33.3%
New Home Purchase: 22.2%
HELOC: 11.1%
 
Total Application Types Found: 4

Age Demographics for Fort Smith Based Mortgages

Average age: 43
Oldest age: 64
Youngest age: 31


Incomes for Fort Smith Based Mortgages

The amounts shown below represent the average income of Canadians living in Fort Smith who have applied for a mortgage loan using Mortgage Super Brokers' pre-approval application.

Average annual gross income for
mortgage applicants in Fort Smith: $94,613.56
applicants within all of Canada: $60,852.54
Difference: $33,761.01
  

Since the average income of Fort Smith is notability higher than our Canadian national average, we have included the MEDIAN annual gross income for this area. A reason for such a high average is usually due to a high income that is just under our cut-off of acceptable incomes of <$500,000. In rare cases, some applicants may have entered an extra digit (ie. 400000 instead of 40000), which will also sway the averages in smaller areas. In such a case, we will correct the data accordingly.

Median annual gross income for
mortgage applicants in Fort Smith: $87,522.00
applicants within all of Canada: $60,852.54
Difference: $26,669.46

Note: Commercial Mortgages were not included for this report, only residential mortgage loan amounts from Fort Smith, Northwest Territories were used.

Last mortgage report update for Fort Smith: Friday, July 1, 2016
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An amortization is the amount of time scheduled to completely pay off a loan, and the amortization length you choose is important in shaping how much you'll end up paying for your home. While the Government of Canada's national housing agency caps the amortization period for high-ratio mortgages at 25 years, and that is the most popular amortization length in Canada, amortizations can range anywhere from 5 to 30 years for uninsured mortgages. Try our easy to use mortgage calculator to see how changing the amortization length affects your loan payments.
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