An increasing number of Canadians are choosing to invest in vacation properties for various reasons. These properties provide a getaway home for relaxation, wealth-building, and special family moments. The good news is that there are accessible mortgages available at low rates, even for non-winterized or remote locations. Whether you're looking for a lake cottage or a housing option for your college student, you can find the best mortgage to suit 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 may only require a minimum down payment of 5% or 10%, others will require 20% or higher. This is because they are categorized differently and receive different treatment from lenders. Furthermore, different requirements apply to different types of cottages, with some types requiring a higher down payment and receiving higher rates. One's mortgage options also depend on the type of property, categorized as year-round accessible or seasonal. Luckily, Canadians have access to innovative tools that streamline the mortgage process and ensure accuracy. For more information and a quick mortgage pre-approval process, reach out to experts in the field.