A growing number of Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and family enjoyment. Accessible mortgages with low rates are available for various types of vacation properties, including non-winterized or remote locations such as lake cottages or college housing options. Different lending criteria apply to second or third homes compared to primary residences, with some properties requiring a minimum down payment of 5% or 10% while others may need 20% or more. Different types of cottages also have varying down payment requirements and interest rates, based on whether they are categorized as year-round accessible or seasonal. With mortgage options that include refinancing, HELOC, or reverse mortgages, Canadians can easily incorporate down payments and access innovative tools for a smooth and accurate process. For complete information and a quick mortgage pre-approval, reach out to learn more.