The number of Canadians investing in vacation properties is on the rise. These properties offer opportunities for relaxation, as well as wealth-building and quality family time. Even non-winterized or remote locations can be financed through accessible mortgages with low rates. Whether it's a lake cottage or a housing option for college, finding the best mortgage is possible. However, lending criteria for second or third homes differ from primary residences. Some vacation and secondary homes may qualify for a minimum down payment of 5% or 10%, while others require 20% or more. Different types of properties also have varying requirements, with certain cottages needing higher down payments and receiving higher rates. Mortgage options depend on the property type, 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. In Canada, there are innovative tools available to simplify processes and ensure accuracy. For complete information and a quick mortgage pre-approval process, reaching out is recommended.