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Sydney Mines Mortgage Information

Average Mortgage Loan in Sydney Mines: $136,382

Nova Scotia Mortgage Originations Compared to all other Provinces and Territories

Online Mortgage Origination for the Province or Territory of Percentage of Applications
Alberta: 21.07%
British Columbia: 10.40%
Manitoba: 2.00%
New Brunswick: 2.53%
Newfoundland and Labrador: 1.30%
Nova Scotia: 3.29%
Northwest Territories: 0.49%
Nunavut: 0.10%
Ontario: 47.31%
Prince Edward Island: 0.51%
Quebec: 3.94%
Saskatchewan: 5.04%
Yukon: 0.47%

How Sydney Mines Ranks in Nova Scotia for Mortgage Business

The following table lists how Sydney Mines 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
14NEW GLASGOW, NS 0.043%
15LIVERPOOL, NS 0.043%
16PICTOU, NS 0.041%
17NEW MINAS, NS 0.038%
23TIMBERLEA, NS 0.026%

Types of Mortgage Inquiries Received from Sydney Mines

Type of Mortgage Application Form Selected  Percentage
of Inquiries
New Home Purchase: 36.8%
Mortgage Pre-approval: 15.8%
Refinance / Debt Consolidation: 15.8%
First-time Home Buyer: 10.5%
No Money Down Mortgage (discontinued): 5.3%
Commercial: 5.3%
Equity Mortgage: 5.3%
Transfer: 5.3%
Total Application Types Found: 8

Age Demographics for Sydney Mines Mortgage Applicants

Average age: 34
Oldest age: 60
Youngest age: 26

Incomes for Sydney Mines Mortgage Applicants

The following depicts the average income of applicants living in Sydney Mines who have submitted an inquiry using Mortgage Super Brokers' pre-approval application.

Average annual gross income for
mortgage applicants in Sydney Mines: $82,139.95
applicants within all of Canada: $60,852.54
Difference: $21,287.41
mortgage co-applicants in Sydney Mines: $26,666.67
co-applicants within all of Canada: $43,965.51
Difference: ($17,298.85)

Since the average income of Sydney Mines is notability higher than the Canadian national average, we have included the MEDIAN annual gross income for this location. 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 Sydney Mines: $55,000.00
applicants within all of Canada: $60,852.54
Difference: ($5,852.54)

Note: Commercial loan amounts were not included for this survey, only residential loans amounts were used.

Last mortgage report update for Sydney Mines: Friday, July 1, 2016
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