An increasing number of Canadians are choosing to invest in vacation properties for various reasons such as relaxation, wealth-building, and family moments. These properties, including non-winterized or remote locations, can be accessed through mortgages with low rates. Different lending criteria apply to second or third homes compared to primary residences, with some vacation and secondary homes requiring a minimum of 5% or 10% down payment, while others mandate 20% or higher. Furthermore, different types of cottages have different requirements, with certain types necessitating a higher down payment and receiving higher rates. Mortgage options depend on the property type, categorized as year-round accessible or seasonal. Down payments can be incorporated through methods such as mortgage refinancing, HELOC, or reverse mortgage. Canada provides innovative tools for streamlined processes and accuracy, and those interested can reach out for complete information and a quick mortgage pre-approval process.