Increasing numbers of Canadians are opting to invest in vacation properties for a variety of reasons, such as relaxation, wealth-building, and quality family time. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, catering to different purposes like lake cottages or college housing options. Different lending criteria apply to secondary homes compared to primary residences, with some properties requiring a minimum 5% or 10% down payment, while others need 20% or more. Various cottage types have different down payment requirements and rates, depending on their categorization as year-round accessible or seasonal properties. Innovative tools in Canada make the mortgage process streamlined and accurate, allowing for easy incorporation of down payments through options like mortgage refinancing, HELOC, or reverse mortgage. For complete information and a quick mortgage pre-approval process, contact us today.