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West Vancouver Mortgage Information

Average Mortgage Loan in West Vancouver: $364,812

British Columbia 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 West Vancouver Ranks in British Columbia for Mortgage Business

The following table lists how West Vancouver 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
64SUMMERLAND, BC 0.035%
65TUMBLER RIDGE, BC 0.035%
66HOPE, BC 0.035%
67ARMSTRONG, BC 0.035%
68QUALICUM BEACH, BC 0.033%
69WEST VANCOUVER, BC 0.033%
70SIDNEY, BC 0.031%
71ELKFORD, BC 0.029%
72OSOYOOS, BC 0.028%
73SHAWNIGAN LAKE, BC 0.028%
74SICAMOUS, BC 0.026%

Types of Mortgage Inquiries Received from West Vancouver


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 31.6%
New Home Purchase: 21.1%
Refinance / Debt Consolidation: 15.8%
First-time Home Buyer: 10.5%
Variable Rate: 10.5%
Equity Mortgage: 5.3%
No Money Down Mortgage (discontinued): 5.3%
 
Total Application Types Found: 7

Age Demographics for West Vancouver Mortgage Applicants

Average age: 46
Oldest age: 66
Youngest age: 33


Incomes for West Vancouver Mortgage Applicants

The numbers below represent the average income of people living in West Vancouver who have submitted an inquiry using Mortgage Super Brokers' pre-approval application.

Average annual gross income for
mortgage applicants in West Vancouver: $116,697.26
applicants within all of Canada: $60,852.54
Difference: $55,844.72
  
mortgage co-applicants in West Vancouver: $45,057.50
co-applicants within all of Canada: $43,965.51
Difference: $1,091.99

Since the average income of West Vancouver is substantially higher than the Canadian national average, we have included the MEDIAN annual gross income for this area. 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 West Vancouver: $94,248.00
applicants within all of Canada: $60,852.54
Difference: $33,395.46

Note: Commercial loans were not included for this report, only residential loans amounts from West Vancouver, British Columbia were used.


Last mortgage report update for West Vancouver: Friday, July 1, 2016
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