An increasing number of Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and family moments. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, with different lending criteria for second or third homes compared to primary residences. Some vacation and secondary homes qualify for a minimum down payment of 5% or 10%, while others may require 20% or higher. Different types of cottages have varying requirements, with certain types necessitating a higher down payment and receiving higher rates. Mortgage options are based on the property type, categorized as year-round accessible or seasonal, and down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Innovative tools in Canada facilitate streamlined processes and accuracy, allowing for a quick mortgage pre-approval process.