The number of Canadians investing in vacation properties is on the rise. These properties offer benefits such as relaxation, wealth-building, and quality family time. Additionally, mortgage options are available at low rates, even for non-winterized or remote locations. Canadians can find the best mortgage for various purposes, whether it's a lake cottage or a housing option for college. However, it's important to note that different lending criteria apply to secondary homes compared to primary residences. The down payment requirements also vary depending on the type of vacation or secondary home. Some properties qualify for a minimum down payment of 5% or 10%, while others require 20% or higher. These properties are categorized differently and treated differently by lenders. Mortgage options also depend on whether the property is categorized as year-round accessible or seasonal. Down payments can be incorporated through mortgage refinancing, a Home Equity Line of Credit (HELOC), or a reverse mortgage. Canada offers innovative tools to streamline the mortgage process and ensure accuracy. For a quick mortgage pre-approval process and complete information, individuals can reach out for assistance.