There is a growing trend among Canadians to invest in vacation properties for various reasons such as relaxation, wealth-building, and family moments. These properties can be accessed through mortgages with low rates, even in non-winterized or remote locations. Different lending criteria apply to second or third homes compared to primary residences, and the down payment requirements also vary depending on the type of property. Some vacation and secondary homes may qualify for a minimum of 5% or 10% down payment, while others may require 20% or higher. Different types of cottages have different requirements and receive different treatment from lenders. Mortgage options are determined by whether the property is categorized as year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Canada offers innovative tools to streamline the mortgage process and ensure accuracy. For complete information and a quick mortgage pre-approval process, individuals are encouraged to reach out.