An increasing number of Canadians are choosing to invest in vacation properties as a means of relaxation, building wealth, and creating cherished family moments. These properties, including non-winterized or remote locations, are now more accessible than ever thanks to mortgages with low interest rates specifically designed for vacation properties. Whether you're looking for a lake cottage or a housing option near a college campus, there are a variety of mortgages available to suit your needs. However, it's important to note that second or third homes have different lending criteria than primary residences. While some vacation and secondary homes may only require a minimum down payment of 5% or 10%, others may require 20% or more. Different types of cottages also have varying requirements and rates. To make the process easier, there are innovative tools and streamlined processes available in Canada. For more information and a quick mortgage pre-approval process, reach out to an expert.