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Norman Wells Mortgage Information

Average Mortgage Loan in Norman Wells: $333,125

How Norman Wells Ranks in Northwest Territories for Mortgage Business

The following table lists how Norman Wells 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 Norman Wells


Type of Mortgage Application Form Selected  Percentage
of Inquiries
New Home Purchase: 50.0%
Mortgage Pre-approval: 25.0%
No Money Down Mortgage (discontinued): 25.0%
 
Total Application Types Found: 3

Age Demographics for Norman Wells Originated Mortgages

Average age: 42
Oldest age: 56
Youngest age: 34


Incomes for Norman Wells Originated Mortgages

The information below represents the average income of Canadians living in Norman Wells who have applied for a loan using the pre-approval application on the Mortgage Super Brokers' web site.

Average annual gross income for
mortgage applicants in Norman Wells: $142,500.00
applicants within all of Canada: $60,852.54
Difference: $81,647.46
  

Since the average income of Norman Wells is substantially higher than the national average, we have included the MEDIAN annual gross income for this town. 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 Norman Wells: $127,500.00
applicants within all of Canada: $60,852.54
Difference: $66,647.46

Note: Commercial Mortgage loans were not included for this report, only residential mortgages from Norman Wells, Northwest Territories were used.

Last mortgage report update for Norman Wells: Friday, July 1, 2016
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