A growing number of Canadians are looking to invest in vacation properties for relaxation, wealth-building, and family time. Accessible mortgages with low rates are available for vacation homes, including those in non-winterized or remote locations, such as lake cottages or college housing options. Different lending criteria apply to secondary homes compared to primary residences, with some properties requiring a minimum down payment of 5% or 10%, while others may need 20% or more. Various types of cottages have different down payment requirements and rates, categorized as year-round accessible or seasonal. Mortgage refinancing, HELOCs, or reverse mortgages can be used to incorporate down payments, and innovative tools are available in Canada to streamline processes and ensure accuracy. For more information and a swift mortgage pre-approval, contact a knowledgeable professional today.