A growing number of Canadians are choosing to invest in vacation properties for purposes such as relaxation, wealth-building, and creating lasting family memories. Accessible mortgages with low rates are available for vacation properties, even those that are non-winterized or located in remote areas. Different lending criteria and down payment requirements apply to second or third homes compared to primary residences, with some vacation and secondary homes qualifying for lower down payments while certain categories may require a higher percentage. Various mortgage options are available depending on the property type, whether it is categorized as year-round accessible or seasonal. Canadians can incorporate down payments through mortgage refinancing, HELOC, or reverse mortgage options, and innovative tools are available in Canada to streamline the mortgage process and ensure accuracy. For more information and a quick mortgage pre-approval process, reach out to explore your options.