An increasing number of Canadians are choosing to invest in vacation properties, whether for relaxation, wealth-building, or creating memorable family moments. Accessible mortgages with low rates are available for various types of vacation properties, including non-winterized or remote locations such as lake cottages or college housing options. Lending criteria differ for second or third homes compared to primary residences, with down payment requirements varying depending on the property type. Different categories of vacation homes may require a minimum down payment of 5% or 10%, while others may require 20% or higher. Mortgage options also vary based on whether the property is year-round accessible or seasonal, with the possibility of incorporating down payments through various methods like mortgage refinancing, HELOC, or reverse mortgage. Canadians have access to innovative tools for a streamlined mortgage process and can reach out for more information and quick pre-approval.