An increasing number of Canadians are choosing to invest in vacation properties, whether it be for relaxation, building wealth, or creating lasting memories with family. These individuals can now take advantage of accessible mortgages with low rates, even for non-winterized or remote locations. Whether they are looking for a lake cottage or a housing option near a college campus, Canadians have options for finding the best mortgage to fit their needs. However, it's important to note that lending criteria for second or third homes differ from those for primary residences. While some vacation and secondary homes may qualify for a minimum down payment of 5