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Summerside Mortgage Information

Average Mortgage Loan in Summerside: $110,789

Peak Hours for Applicants within Summerside

Mortgage inquiries are received 24 hours a day via the Super Brokers' web site. The graph shown below indicates the rush hours over a 24-hour period. The data is taken from all days of all years.


Peak Hours Graph for Mortgages in Summerside
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 0%
1AM 01:00 to 01:59: 0%
2AM 02:00 to 02:59: 0%
3AM 03:00 to 03:59: 0%
4AM 04:00 to 04:59: 0%
5AM 05:00 to 05:59: 4.3%
6AM 06:00 to 06:59: 8.7%
7AM 07:00 to 07:59: 8.7%
8AM 08:00 to 08:59: 8.7%
9AM 09:00 to 09:59: 8.7%
10AM 10:00 to 10:59: 4.3%
11AM 11:00 to 11:59: 4.3%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 4.3%
1PM 13:00 to 13:59: 8.7%
2PM 14:00 to 14:59: 0%
3PM 15:00 to 15:59: 8.7%
4PM 16:00 to 16:59: 4.3%
5PM 17:00 to 17:59: 4.3%
6PM 18:00 to 18:59: 13.0%
7PM 19:00 to 19:59: 0%
8PM 20:00 to 20:59: 4.3%
9PM 21:00 to 21:59: 0%
10PM 22:00 to 22:59: 0%
11PM 23:00 to 23:59: 4.3%

Prince Edward Island 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 Summerside Ranks in Prince Edward Island for Mortgage Business

The following table lists how Summerside 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
1CHARLOTTETOWN, PE 0.188%
2SUMMERSIDE, PE 0.040%
3STRATFORD, PE 0.035%
4CORNWALL, PE 0.031%
5MONTAGUE, PE 0.022%
6SOURIS, PE 0.019%
7O'LEARY, PE 0.017%

Types of Mortgage Inquiries Received from Summerside


Type of Mortgage Application Form Selected  Percentage
of Inquiries
First-time Home Buyer: 30.4%
Mortgage Pre-approval: 21.7%
No Money Down Mortgage (discontinued): 17.4%
Mortgage Renewal: 13.0%
New Home Purchase: 8.7%
Refinance / Debt Consolidation: 4.3%
Commercial: 4.3%
 
Total Application Types Found: 7

Age Demographics for Summerside Mortgage Applicants

Average age: 37
Oldest age: 64
Youngest age: 21


Incomes for Summerside Mortgage Applicants

The numbers below represent the average income of Canadians living in Summerside who have applied for a home loan using the pre-approval application on the Mortgage Super Brokers' web site.

Average annual gross income for
mortgage applicants in Summerside: $40,857.14
applicants within all of Canada: $60,852.54
Difference: ($19,995.40)
  
mortgage co-applicants in Summerside: $34,062.50
co-applicants within all of Canada: $43,965.51
Difference: ($9,903.01)

Note: Commercial loan amounts were not included for this report, only residential mortgage loan amounts from Summerside, Prince Edward Island were used.


Last mortgage report update for Summerside: Friday, July 1, 2016
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