A growing number of Canadians are opting to invest in vacation properties, whether it be for relaxation, building wealth, or creating family memories. These properties have become more accessible with low mortgage rates, even in non-winterized or remote locations. Different lending criteria apply to second or third homes compared to primary residences, with some vacation and secondary homes qualifying for as low as a 5% or 10% down payment while others require 20% or more. Various mortgage options are available depending on the type of property, categorized as year-round accessible or seasonal, and down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Canadians can take advantage of innovative tools for a streamlined and accurate process, and reach out for more information and a quick mortgage pre-approval.