A growing number of Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and family memories. Accessible mortgages with low rates are available for a variety of vacation property types, including non-winterized or remote locations such as lake cottages or college housing options. Different lending criteria apply to second or third homes compared to primary residences, with some vacation properties qualifying for minimum down payments of 5% or 10%, while others may require 20% or more. Specific types of cottages may also have higher down payment requirements and rates. Mortgage options vary based on property type, whether year-round accessible or seasonal, and down payments can be incorporated through methods like mortgage refinancing, HELOC, or reverse mortgage. Canadians can take advantage of innovative tools and streamlined processes to ensure accuracy and efficiency when seeking information and pre-approval for vacation property mortgages.