An increasing number of Canadians are choosing to invest in vacation properties for various reasons such as relaxation, wealth-building, and creating cherished family moments. These individuals are benefiting from accessible mortgages with low rates, even for properties that are not winterized or located in remote areas. Depending on the purpose of the property, whether it be a lake cottage or a housing option for college, different lending criteria apply 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. The type of cottage and its accessibility throughout the year also influence mortgage options. To incorporate down payments, options such as mortgage refinancing, HELOC, or reverse mortgage can be considered. Canada offers innovative tools to streamline the process and ensure accuracy, and individuals can access complete information and a quick mortgage pre-approval process by reaching out.