An increasing number of Canadians are choosing to invest in vacation properties as a means of relaxation, wealth-building, and quality family moments. These properties, even if they are non-winterized or in remote locations, can be financed through accessible mortgages with low rates. Whether one is looking for a lake cottage or a college housing option, there are various mortgage options available to suit different purposes. However, it is important to note that lending criteria for second or third homes differ from primary residences. While some vacation and secondary homes may qualify for a minimum down payment of 5% or 10%, others may require 20% or higher. The categorization and treatment of these homes by lenders also vary. Additionally, the mortgage options available depend on the type of property, which can be either year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, a HELOC, or a reverse mortgage. Fortunately, there are innovative tools in Canada that facilitate streamlined processes and ensure accuracy. For complete information and a quick mortgage pre-approval process, individuals are encouraged to reach out for assistance.