Increasing numbers of Canadians are choosing to invest in vacation properties, whether for relaxation, wealth-building, or family moments. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, with options for lake cottages or college housing. Different lending criteria apply to second or third homes compared to primary residences, with minimum down payments ranging from 5% to 20% or higher depending on the property type. Various mortgage options, including refinancing, HELOC, or reverse mortgages, can be incorporated into down payments, with innovative tools in Canada available for streamlined processes and accuracy. For complete information and a quick mortgage pre-approval process, reach out to learn more about different requirements and treatment for various types of vacation and secondary homes.