u/Diptyqueee

I started working with a CIBC mortgage advisor in early April since I’m renewing my mortgage soon and I want to shop around. I’ve sent all my paperwork to the agent and then mid-April he said that the appraisal came back lower than the house value but because I have an insured mortgage with Canada Guaranty it should be fine. But it’s now mid-May and he said he’s still waiting on “CHMC to give the green light to complete the file” and I responded to him that my mortgage insurance is with Canada Guaranty and not CHMC…

I feel like he’s wasted my time. I got approved no problem with RBC with a 3.65. I told this to him and he said CIBC can’t match that anyway and to let him know if I wanted to pull out from CIBC approval process. Like okay, but why is CIBC approval process taking forever?? And shouldn’t me having an insured mortgage not impact the appraisal?

I currently work remote right now making about 105k but I have a potential offer at 115k-120k for a hybrid role in Mississauga 3x a week. Transportation isn’t an issue since my husband already does this commute too since his office is also in Mississauga and it’s about 5 mins away from this new job.

The new job has better benefits (annual bonus, stocks, mat leave top up) and more room for growth. My only concern is leaving my remote job. I love being remote since I get to have better work life balance. I get to walk our dogs multiple times a day, I get to multi-task (laundry, cooking dinner early, etc.). Right now my husband’s commute going home can take over an hour (we live near the Bayview/401 now), which can be very exhausting. We’re also planning on having kids next year so I’m thinking being remote makes the most sense while pregnant and also when raising kids due to the flexibility of the role.

Any advice?

Currently our condo is about 700 sq ft and condo fees are close to $800. This is all inclusive of hydro and heating and everything else except internet. Live in North Toronto. Will condo fees just keep climbing $820…$40…$850…$900, etc.?? I heard some condos could ask unit owners to pay a lump sum of $ to keep condo fees low - is that common?

Hi everyone!

My mom’s aunt is based abroad and she’s selling a few of her properties. She has no kids of her own so she is looking to gift majority of the sale proceeds to my mom and her siblings (2 sisters and a brother).

My mom is the only one in Canada so her situation is quite unique. If she were to receive the money as a gift, does she need to pay taxes in Canada? I think gifts are not taxed but wanted to confirm if anyone has been in that position before.