Seriously?!
Yup.
After adding the $7,298 in Property Transfer Tax (Which can't legally be applied to the mortgage, or something like that, so we pay out of our own pockets) - and also our share of the White Rock Property taxes, then strata fee, among other things - to the grand total we owe.
Then subtracting the $7,219.19 in Mortgage default insurance from the amount the bank loaned us - because we only put down 5% and CMHC law only allows a mortgage to pay 95% of any mortgage.
All that stuff means that the mortgage ended up $10,000 SHORT, which we now have to cough up!
O M G!!
And to add to the drama that finding all this out caused - is the fact that the lawyer sent us an email requesting the $10,000 at 10 am on Monday morning - but I only read part of it (the happy, fluffy "see you tomorrow for signing" part, not the bring $10,000 part) then. I read the rest of the email at 11:30 pm ... And the final paper signing was at 9 am the next day!
Needless to say, my heart and stomach dropped out of my body onto the floor when I read that part! I then had to wake Clint up to tell him (give him as much advance warning as I could).
I tried to figure out how & why they could think we owed more money, but was too tired.
Anyhow long story, but the truth is that we do owe it. The bank also owes us money back - about $11,000 actually. Since they penalized us for paying out the old mortgage early ... And pay it back when we open new mortgage with them (today).
So the $10,000 is covered by that refund, but bye bye to our summer savings.
Sigh. Ugh. Sure is a poker-in-the-eye to our massive excitement over moving into the new place.
Anyhow ... On a happy note - WE MOVE IN TOMORROW. HOORAY. SO HAPPY.