Vacation Homes

An increasing number of Canadians are choosing to invest in vacation properties for various reasons such as relaxation, wealth-building, and creating memorable moments with family. The good news is that mortgages with low rates are now accessible for vacation properties, even those that are non-winterized or located in remote areas. Whether you are looking for a lake cottage or a housing option near a college, there are mortgage options available to suit your needs. Keep in mind that the lending criteria for second or third homes differ from primary residences. While some vacation and secondary homes only require a minimum of 5% or 10% down payment, certain categories may require 20% or more. Different types of cottages also have varying down payment requirements and interest rates. It is important to understand that mortgage options depend on the property type, whether it is year-round accessible or seasonal. Additionally, there are innovative tools available in Canada to simplify and ensure the accuracy of the mortgage process. For complete information and a quick mortgage pre-approval, reach out to us.

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