A growing number of Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and family gatherings. Accessible mortgages with low rates are available for various types of getaway homes, including non-winterized or remote locations such as lake cottages or college housing options. Different lending criteria apply to secondary properties compared to primary residences, with some vacation homes requiring only a minimum of 5% or 10% down payment while others may need 20% or higher. Certain types of cottages may also have specific requirements for down payments and rates. Mortgage options are determined by the property's classification as year-round accessible or seasonal, and down payments can be incorporated through refinancing, home equity lines of credit, or reverse mortgages. Canadians can take advantage of innovative tools for a streamlined and accurate mortgage process by contacting lenders for complete information and quick pre-approval.