Increasing numbers of Canadians are choosing to invest in vacation properties as a way to relax, build wealth, and create lasting family memories. With accessible mortgages offering low rates for even non-winterized or remote locations, it is easier than ever to find the perfect getaway home. Different lending criteria apply to second or third homes compared to primary residences, with options for a minimum of 5% or 10% down payment for some properties, while others may require 20% or more. Various types of vacation homes, such as cottages, may have specific requirements for down payments and rates depending on their classification as year-round accessible or seasonal. By utilizing mortgage refinancing, HELOC, or reverse mortgage options, Canadians can incorporate down payments for their dream vacation property. With innovative tools available in Canada for streamlined processes and accuracy, interested buyers can easily navigate the mortgage pre-approval process with complete information at their fingertips.