The number of Canadians investing in vacation properties is on the rise. People are choosing to invest in getaway homes for a variety of reasons, including relaxation, wealth-building, and creating special family moments. Mortgages with low rates are available for vacation properties, even those that are non-winterized or located in remote areas. Whether you're looking for a lake cottage or a housing option near a college, you can find the best mortgage to suit your needs. The lending criteria for second or third homes differ from primary residences, and the down payment requirements vary depending on the category of the vacation or secondary home. Different types of cottages also have different down payment requirements and receive different interest rates. The mortgage options available depend on whether the property is categorized as year-round accessible or seasonal. Down payments can be incorporated through methods such as mortgage refinancing, a home equity line of credit (HELOC), or a reverse mortgage. Innovative tools are available in Canada to streamline the mortgage process and ensure accuracy. For complete information and a quick mortgage pre-approval, reach out to the appropriate resources.