More and more Canadians are choosing to invest in vacation properties for reasons such as relaxing retreats, creating wealth, and building family memories. Mortgages with low rates are accessible for vacation properties, with some requiring only a 5% or 10% down payment. However, different types of properties have different lending criteria and may require a higher down payment. Innovative tools are available in Canada to streamline the process, and various mortgage options such as refinancing, HELOC, or reverse mortgage are available to incorporate down payments. It's essential to understand the different options available and work with a lender for a quick and stress-free pre-approval process.