An increasing number of Canadians are looking to invest in vacation properties for relaxation, wealth-building, and family bonding. Accessible mortgages with low rates are available for a variety of purposes, including lake cottages or college housing options. Different lending criteria apply to second or third homes compared to primary residences, with some properties requiring a minimum of 5% down payment, while others may need 20% or higher. Certain types of cottages may also require a higher down payment and receive higher rates. Mortgage options vary depending on property type, whether year-round accessible or seasonal. Down payments can be incorporated via mortgage refinancing, HELOC, or reverse mortgage. Canadian investors can take advantage of innovative tools for a streamlined and accurate mortgage process, and are encouraged to reach out for complete information and quick pre-approval.