The number of Canadians investing in vacation properties is on the rise. These properties offer a retreat for relaxation, as well as an opportunity for wealth-building and creating lasting family memories. 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 housing option for college, finding the best mortgage is important. Lending criteria for second or third homes differ from primary residences, with some vacation homes requiring 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 requiring higher down payments and receiving higher rates. Mortgage options vary depending on whether the property is year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Take advantage of innovative tools available in Canada for a streamlined and accurate process. For more information and a quick mortgage pre-approval, reach out today.