Vacation Homes

The number of Canadians investing in vacation properties is on the rise. These properties offer opportunities for relaxation, wealth-building, and memorable family moments. Furthermore, even non-winterized or remote vacation properties can be financed through accessible mortgages with low rates. Whether you are looking for a lake cottage or a college housing option, finding the best mortgage to suit your needs is possible. However, it is important to note that different lending criteria apply to vacation properties compared to primary residences. Down payment requirements also vary depending on the type of vacation property, with some qualifying for as little as 5% or 10% down payment, while others require 20% or higher. Different types of cottages also have different down payment requirements and interest rates. To make the mortgage process easier, there are innovative tools available in Canada that ensure streamlined processes and accuracy. For more information and a quick mortgage pre-approval process, reach out today.

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