An increasing number of Canadians are investing in vacation properties to enjoy relaxation, build wealth, and create family memories. Accessible mortgage options with low rates are available for various types of vacation homes, including non-winterized or remote locations like lake cottages or college housing. Unlike primary residences, second or third homes follow different lending criteria, with down payments ranging from as low as 5% to 20% or more, depending on the property type and seasonal accessibility. Some cottages require higher down payments and rates. Financing can also involve mortgage refinancing, HELOCs, or reverse mortgages. Innovative tools in Canada streamline the mortgage process, offering quick pre-approval and comprehensive support.