An increasing number of Canadians are choosing to invest in vacation properties for relaxation, wealth-building, and family moments. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, such as lake cottages or college housing options. Different lending criteria apply to second or third homes compared to primary residences, with some properties requiring a minimum of 5% or 10% down payment, while others may need 20% or more. Various types of cottages have different requirements, with certain ones needing higher down payments and rates. Mortgage options depend on whether the property is year-round accessible or seasonal, and down payments can be incorporated via mortgage refinancing, HELOC, or reverse mortgage. Innovative tools in Canada streamline the mortgage process, and individuals can reach out for complete information and a quick mortgage pre-approval process.