More and more Canadians are choosing to invest in vacation properties for reasons including relaxation, wealth-building, and creating family memories. Accessible mortgages with low rates are available even for non-winterized or remote locations, catering to various purposes such as lake cottages or college housing options. Different lending criteria apply to second or third homes compared to primary residences, with some properties qualifying for minimal down payments while others require 20% or more. Various types of cottages have different requirements, with certain categories receiving higher rates and necessitating larger down payments. Mortgage options are dependent on whether the property is categorized as year-round accessible or seasonal, and down payments can be incorporated through methods such as mortgage refinancing, HELOC, or reverse mortgage. Canadians can take advantage of innovative tools for streamlined processes and accuracy, and are encouraged to reach out for complete information and a quick mortgage pre-approval process.