The number of Canadians investing in vacation properties is on the rise, with many looking to purchase getaway homes for relaxation, wealth-building, and family time. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, catering to various purposes such as lake cottages or college housing options. Different lending criteria apply to secondary homes compared to primary residences, with some properties qualifying for a minimum of 5% or 10% down payment, while others require 20% or higher. Various types of cottages have different requirements for down payments and rates, depending on whether they are categorized as year-round accessible or seasonal properties. Homeowners can incorporate down payments through mortgage refinancing, HELOCs, or reverse mortgages, and take advantage of innovative tools in Canada for a streamlined and accurate mortgage application process. For more information and a quick mortgage pre-approval, reach out for assistance.