An increasing number of Canadians are investing in vacation properties for relaxation, wealth-building, and creating family memories. Accessible mortgages with competitive rates are available even for non-winterized or remote locations, catering to various purposes such as lake cottages or college housing. Lending criteria differ significantly for second or third homes compared to primary residences, with down payments ranging from as low as 5% or 10% to 20% or higher depending on the property type and classification. Year-round accessible properties typically have different requirements than seasonal cottages. Buyers can incorporate down payments through refinancing, HELOCs, or reverse mortgages, and benefit from innovative Canadian tools for a streamlined mortgage process and quick pre-approval. Reach out to learn more.