The number of Canadians investing in vacation properties is increasing. These properties offer the benefits of relaxation, wealth-building, and quality family time. Even non-winterized or remote locations can be financed with accessible mortgages that have low rates. Whether one is looking for a lake cottage or a college housing option, there are various mortgage options available. However, it is important to note that different lending criteria apply to second or third homes compared to primary residences. For some vacation and secondary homes, a minimum down payment of 5% or 10% is required, while certain categories may require 20% or more. Different types of cottages have different requirements, with some requiring higher down payments and receiving higher rates. Mortgage options also depend on whether the property is categorized as year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Canada also offers innovative tools for a streamlined and accurate mortgage process. For complete information and a quick mortgage pre-approval process, individuals are encouraged to reach out.