More and more Canadians are investing in vacation properties, whether it's for relaxation, building wealth, or creating family memories. The good news is that there are accessible mortgages available with low rates, even for non-winterized or remote locations. Whether you're looking for a lake cottage or a housing option near college, you can find the best mortgage that suits your needs. However, it's important to note that different lending criteria apply to second or third homes compared to primary residences. Depending on the category of vacation or secondary homes, the down payment required can range from a minimum of 5% or 10% to 20% or even higher. Each type of cottage also has different requirements, with some needing a higher down payment and receiving higher rates. As for mortgage options, they depend on whether the property is categorized as year-round accessible or seasonal. Additionally, there are various ways to incorporate down payments, such as mortgage refinancing, HELOC, or reverse mortgage. Luckily, Canada offers innovative tools for a streamlined and accurate mortgage process. If you're interested, reach out for complete information and a quick mortgage pre-approval process.