An increasing number of Canadians are choosing to invest in vacation properties, seeing them as a means of relaxation, wealth-building, and family bonding. These properties, including non-winterized or remote locations, can be obtained through accessible mortgages with low rates. Whether one is looking for a lake cottage or a college housing option, there are various mortgage options available. It should be noted that lending criteria differ for second or third homes compared to primary residences. While some vacation and secondary homes may only require a minimum down payment of 5% or 10%, others may require 20% or higher. Additionally, different types of cottages have different requirements, with some necessitating higher down payments and receiving higher rates. The mortgage options available also depend on the property type, whether it is year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Fortunately, Canada offers innovative tools to simplify the process and accurately calculate mortgage options. For complete information and a quick mortgage pre-approval process, interested individuals are encouraged to reach out.