The number of Canadians investing in vacation properties is on the rise, as they seek to have a getaway home for relaxation, wealth-building, and family moments. Accessible mortgages with low rates are available for vacation properties, including those that are non-winterized or located in remote areas. Whether it's a lake cottage or a college housing option, there are different lending criteria for second or third homes compared to primary residences. The down payment requirements also vary, with some vacation and secondary homes qualifying for a minimum of 5% or 10% down payment, while others require 20% or higher. Different types of cottages have different requirements and may receive higher rates. Mortgage options depend on whether the property is year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Innovative tools in Canada are available to streamline the mortgage process and ensure accuracy. For complete information and a quick mortgage pre-approval process, reach out for assistance.