The trend of Canadians investing in vacation properties is on the rise, with many opting to purchase getaway homes for relaxation, wealth-building, and family bonding. Access to affordable mortgages with low rates is available for vacation properties, including non-winterized or remote locations, catering to various needs such as lake cottages or college housing options. Lending criteria for second or third homes differ from primary residences, with down payment requirements ranging from 5% to 20% or higher based on the category of the property. Different types of cottages have varying down payment and interest rate requirements, based on whether they are categorized as year-round accessible or seasonal properties. Innovative tools in Canada can streamline the mortgage process and ensure accuracy, making it easier for potential buyers to obtain quick pre-approval.