An increasing number of Canadians are choosing to invest in vacation properties, whether it be for relaxation, wealth-building, or creating lasting family moments. The good news is that there are accessible mortgages available with low rates, even for non-winterized or remote locations. Whether you're looking for a lake cottage or a housing option near a college, you can find the best mortgage to suit your needs. It's important to note that there are different lending criteria for second or third homes compared to primary residences. While some vacation and secondary properties may qualify for a minimum 5% or 10% down payment, others may require at least 20% or more. The categorization of the property and its intended use will determine the down payment requirements and interest rates. Additionally, mortgage options will depend on whether the property is categorized as year-round accessible or seasonal. If you're looking to incorporate your down payment, there are options such as mortgage refinancing, a home equity line of credit (HELOC), or a reverse mortgage. In Canada, there are also innovative tools available to streamline the mortgage process and ensure accuracy. For more information and a quick mortgage pre-approval process, don't hesitate to reach out and get started on your vacation property investment.