An increasing number of Canadians are choosing to invest in vacation properties, seeing them as an opportunity for relaxation, wealth-building, and quality family time. Even non-winterized or remote locations can now be purchased with accessible mortgages that offer low rates. Whether you're looking for a lake cottage or a housing option for college, there are mortgage options available to suit your needs. Second and third homes have different lending criteria compared to primary residences, with some requiring a minimum down payment of 5% or 10%, while others may need 20% or more. Each type of cottage has different requirements, with certain types requiring higher down payments and receiving higher rates. Mortgage options also vary depending on whether the property is categorized as year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, a home equity line of credit (HELOC), or a reverse mortgage. Take advantage of innovative tools in Canada that can streamline the mortgage process and ensure accuracy. Contact us for complete information and a quick mortgage pre-approval process.