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Redwater Mortgage Information

Average Mortgage Loan in Redwater: $228,375

How Redwater Ranks in Alberta for Mortgage Business

The following table lists how Redwater 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
102EVANSBURG, AB 0.017%
103BRAGG CREEK, AB 0.016%
104VIKING, AB 0.016%
105GLENDON, AB 0.016%
106REDWATER, AB 0.016%
107BLACKIE, AB 0.016%
108DELBURNE, AB 0.016%
109MYRNAM, AB 0.016%
110CALMAR, AB 0.016%

Types of Mortgage Inquiries Received from Redwater

Type of Mortgage Application Form Selected  Percentage
of Inquiries
First-time Home Buyer: 44.4%
Refinance / Debt Consolidation: 22.2%
New Home Purchase: 11.1%
No Money Down Mortgage (discontinued): 11.1%
Investment: 11.1%
Total Application Types Found: 5

Age Demographics for Redwater Originated Mortgages

Average age: 34
Oldest age: 60
Youngest age: 21

Incomes for Redwater Originated Mortgages

The amounts below are the average income of Canadians living in Redwater who have submitted an inquiry using Mortgage Super Brokers' pre-approval application.

Average annual gross income for
mortgage applicants in Redwater: $76,177.78
applicants within all of Canada: $60,852.54
Difference: $15,325.24

Note: Commercial Mortgages were not included for this survey, only residential mortgage loans from Redwater, Alberta were used.

Last mortgage report update for Redwater: Friday, July 1, 2016
Home Mortgage
Below is a listing of our most popular mortgage product inquiries made using our online mortgage application for clients in Olds.

Mortgage Product Type Inquiries
Refinance/Consolidate Debt24.19%
Mortgage Pre-approval17.74%
New Purchase17.74%
First-time Home Buyer16.13%
Mortgage Renewal8.06%
No Money Down discontinued4.84%
Mortgage Amortization Calculator
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.
Mortgage Amortization Calculator