A growing number of Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and quality family time. Mortgage options for these properties offer low rates, including for non-winterized or remote locations, such as lake cottages or college housing options. Second or third homes have different lending criteria than primary residences, with some properties requiring as little as a 5% or 10% down payment, while others may need 20% or more. Different types of cottages also carry varying down payment requirements and interest rates. Mortgage options depend on the property type, whether year-round accessible or seasonal, and down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Canadians can take advantage of innovative tools for a streamlined and accurate mortgage process, with complete information and quick pre-approval available upon request.