Growing numbers of Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and quality family time. Thanks to accessible mortgages with low rates, even properties in non-winterized or remote locations are becoming popular choices. Different lending criteria apply to second or third homes compared to primary residences, with some vacation properties requiring as little as a 5% or 10% down payment, while others may need 20% or more. Cottages may have varying requirements based on type, location, and accessibility, affecting down payment amounts and interest rates. Mortgage options vary based on property type, whether it is a year-round accessible or seasonal property. Innovative tools in Canada like mortgage refinancing, HELOCs, and reverse mortgages can help streamline the process and provide accuracy, ensuring a quick mortgage pre-approval process for interested buyers.