An increasing number of Canadians are now investing in vacation properties, whether it be for relaxation, wealth-building, or family moments. Luckily, there are accessible mortgages available with low rates, even for non-winterized or remote locations. Whether you're looking for a lake cottage or college housing, you can find the best mortgage for your needs. It's important to note that different lending criteria apply to second or third homes compared to primary residences. While some vacation and secondary homes can qualify for a minimum 5% or 10% down payment, others may require 20% or more. Each type of property is categorized differently and receives different treatment from lenders. Additionally, different requirements and rates apply to various types of cottages, depending on their classification as year-round accessible or seasonal. You can incorporate your down payment through mortgage refinancing, a HELOC, or a reverse mortgage. Canada offers innovative tools for streamlined processes and accuracy, so don't hesitate to reach out for complete information and a quick mortgage pre-approval process.