There has been a noticeable increase in the number of Canadians who are investing in vacation properties. These properties are seen as a way to not only enjoy relaxation and family moments, but also to build wealth. The good news is that there are accessible mortgages available for vacation properties, even in non-winterized or remote locations. Different lending criteria apply to second or third homes compared to primary residences. Some vacation homes may qualify for a minimum down payment of 5% or 10%, while others will require 20% or more. Additionally, different types of cottages may have varying down payment requirements and interest rates. The availability of mortgage options also depends on whether the property is categorized as year-round accessible or seasonal. People can incorporate their down payments through mortgage refinancing, a home equity line of credit (HELOC), or a reverse mortgage. Canada offers innovative tools to streamline the mortgage process and ensure accuracy. For more information and to go through a quick mortgage pre-approval process, individuals are encouraged to reach out.