The number of Canadians investing in vacation properties is increasing, as more people see the benefits of owning a getaway home for relaxation, wealth-building, and family moments. Thankfully, accessible mortgages with low rates are available for vacation properties, including those in non-winterized or remote locations. Whether you're looking for a lake cottage or a college housing option, you can find the best mortgage to suit your needs. However, it's important to note that different lending criteria apply to second or third homes compared to primary residences, and certain categories of vacation and secondary homes will require higher down payments of 20% or more. Additionally, different types of cottages have different requirements, so some may require a higher down payment and receive higher rates. Mortgage options also depend on whether the property is categorized as year-round accessible or seasonal. To make the process easier, there are innovative tools available in Canada that can streamline the mortgage application process and ensure accuracy. For more information and a quick mortgage pre-approval process, don't hesitate to reach out.