More and more Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and family bonding. With accessible mortgages offering low rates even for non-winterized or remote locations, individuals can find the best mortgage options for various purposes such as lake cottages or college housing. Different lending criteria apply to second or third homes compared to primary residences, with certain vacation and secondary homes qualifying for minimum down payments of 5% or 10%, while others may require 20% or higher. Different types of cottages have different requirements, and mortgage options depend on whether the property is year-round accessible or seasonal. Incorporating down payments via mortgage refinancing, HELOC, or reverse mortgage is also possible, and Canadians can access innovative tools for a streamlined mortgage process and quick pre-approval.