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Rankin Inlet Mortgage Information

Average Mortgage Loan in Rankin Inlet: $216,000

How Rankin Inlet Ranks in Nunavut for Mortgage Business

The following table lists how Rankin Inlet 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
1IQALUIT, NU 0.043%
3GJOA HAVEN, NU 0.009%
6IGLOOLIK, NU 0.005%
7WHALE COVE, NU 0.003%

Types of Mortgage Inquiries Received from Rankin Inlet

Type of Mortgage Application Form Selected  Percentage
of Inquiries
No Money Down Mortgage (discontinued): 50.0%
New Home Purchase: 33.3%
Refinance / Debt Consolidation: 16.7%
Total Application Types Found: 3

Age Demographics for Rankin Inlet Mortgage Applicants

Average age: 36
Oldest age: 56
Youngest age: 23

Incomes for Rankin Inlet Mortgage Applicants

The figures below represent the average income of people living in Rankin Inlet who have applied for a mortgage loan using the online application located at the Mortgage Super Brokers' web site.

Average annual gross income for
mortgage applicants in Rankin Inlet: $87,296.33
applicants within all of Canada: $60,852.54
Difference: $26,443.79

Since the average income of Rankin Inlet is much 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 Rankin Inlet: $86,944.50
applicants within all of Canada: $60,852.54
Difference: $26,091.96

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

Last mortgage report update for Rankin Inlet: Friday, July 1, 2016
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