A growing number of Canadians are choosing to invest in vacation properties as a way to relax, build wealth, and create lasting family memories. With accessible mortgages featuring low rates for even non-winterized or remote locations, individuals can find the best mortgage options for various purposes such as lake cottages or college housing. Different lending criteria apply to second or third homes compared to primary residences, with varying down payment requirements ranging from 5% to 20% depending on the property type. Innovative tools in Canada can streamline the mortgage process, allowing for quick pre-approval. Contact us for more information on how to incorporate down payments via mortgage refinancing, HELOC, or reverse mortgage for your dream getaway home.