A growing number of Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and creating family memories. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, allowing for various purposes such as lake cottages or college housing options. Different lending criteria apply to second or third homes compared to primary residences, with some properties qualifying for as little as a 5% or 10% down payment while others require 20% or more. Different types of cottages have varying down payment requirements and interest rates based on their categorization as year-round accessible or seasonal. Mortgage refinancing, HELOCs, and reverse mortgages can be used for down payments, and innovative tools are available in Canada to simplify and ensure accuracy in the mortgage process. Contact us for complete information and a fast mortgage pre-approval process.