An increasing number of Canadians are choosing to invest in vacation properties for various reasons such as relaxation, wealth-building, and creating family moments. These properties, even if they are non-winterized or in remote locations, can be easily accessible through mortgages with low interest rates. Whether it's a lake cottage or a college housing option, Canadians can find the best mortgage to suit their needs. However, it's important to note that lending criteria for second or third homes differ from primary residences. Depending on the category of vacation or secondary home, down payments can range from a minimum of 5% or 10% to 20% or higher. Different types of cottages may also require higher down payments and have different interest rates. Mortgage options depend on the property type, categorized as either year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Luckily, Canada offers innovative tools to streamline processes and ensure accuracy. For complete information and a quick mortgage pre-approval process, individuals can reach out for assistance.