The number of Canadians investing in vacation properties is on the rise, with many reasons driving this trend. People are looking to invest in a getaway home that can provide relaxation, the potential for building wealth, and unforgettable family moments. Moreover, obtaining a mortgage for a vacation property has become more accessible, even for properties that are non-winterized or located in remote areas. Whether you're looking for a lake cottage or a housing option near a college, there are various mortgage options available to suit your needs. It's important to note that the lending criteria for second or third homes differ from primary residences. While some vacation and secondary homes may only require a minimum down payment of 5% or 10%, others, particularly certain types of cottages, may require a down payment of 20% or higher and may also have higher interest rates. Additionally, the mortgage options available to you will depend on the property type, categorized as either year-round accessible or seasonal. If you're interested in purchasing a vacation property, there are innovative tools and streamlined processes available in Canada to assist you. Feel free to reach out for more information and a quick mortgage pre-approval process.