An increasing number of Canadians are choosing to invest in vacation properties, whether it be for relaxation, wealth-building, or family moments. The good news is that there are accessible mortgage options available with low rates, even for non-winterized or remote locations. Whether you're looking for a lake cottage or a college housing option, you can find the best mortgage to suit your needs. It's important to note that different lending criteria are applied to second or third homes compared to primary residences. While some vacation and secondary homes may qualify for a minimum down payment of 5% or 10%, certain categories will require 20% or higher. Different types of cottages also have varying down payment requirements and rates. The mortgage options available will depend on whether the property is categorized as year-round accessible or seasonal. Additionally, there are innovative tools in Canada that can help streamline the mortgage process and ensure accuracy. For more information and a quick mortgage pre-approval process, reach out today.