An increasing number of Canadians are choosing to invest in vacation properties, whether it be for relaxation, building wealth, or creating memorable family moments. Even non-winterized or remote locations can now be easily financed through accessible mortgages with low rates. Whether it's a lake cottage or a college housing option, finding the best mortgage for various purposes is possible. However, it is important to note that different lending criteria apply to secondary or third homes compared to primary residences. Some vacation and secondary homes may qualify for a minimum down payment of 5% or 10%, while others may require a higher down payment