There is a growing trend among Canadians to invest in vacation properties as a means of relaxation, wealth-building, and creating family memories. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, such as lake cottages or college housing options. Different lending criteria apply to second or third homes compared to primary residences, with some properties requiring a minimum of 5% to 10% down payment and others needing 20% or more. Certain types of cottages may also require higher down payments and receive higher rates. Mortgage options vary depending on whether the property is categorized as year-round accessible or seasonal, and down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage options. Canadians can take advantage of innovative tools for a streamlined and accurate mortgage application process, and are encouraged to reach out for more information and a quick pre-approval process.