More Canadians than ever are choosing to invest in vacation properties as a way to relax, build wealth, and create special family moments. The good news is that mortgages for vacation properties are now more accessible, even for non-winterized or remote locations, and come with low rates. Whether you are looking for a lake cottage or a college housing option, there are a variety of mortgage options available to suit your needs. It's important to note that lending criteria for second or third homes are different from primary residences, with some vacation and secondary homes qualifying for a minimum down payment of 5% or 10%, while others require 20% or higher. Different types of cottages also have specific requirements, including higher down payments and rates. The type of property, whether it is year-round accessible or seasonal, will determine the mortgage options available. If you are looking to incorporate down payments, there are innovative tools such as mortgage refinancing, HELOC, or reverse mortgages to help. To learn more and begin the quick mortgage pre-approval process, reach out for complete information and assistance from trusted professionals.