The number of Canadians investing in vacation properties is increasing. These properties are attractive for relaxation, wealth-building, and creating family moments. Even non-winterized or remote vacation properties can be financed with accessible mortgages that offer low rates. Whether it's a lake cottage or a college housing option, there are various mortgage options available to suit different purposes. However, lending criteria for second or third homes differ from primary residences. Some vacation and secondary homes may only require a minimum down payment of 5% or 10%, while others may require 20% or more. Different types of cottages also have different requirements, with certain types necessitating higher down payments and receiving higher rates. The mortgage options offered depend 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. In Canada, there are innovative tools available to streamline processes and ensure accuracy. For more information and a quick mortgage pre-approval process, individuals can reach out for assistance.