A growing number of Canadians are choosing to invest in vacation properties for a variety of reasons, such as relaxation, wealth-building, and family time. Accessible mortgages with low rates are available for these properties, even non-winterized or remote locations, making it easier for buyers to find the perfect getaway home. Different lending criteria apply to second or third homes compared to primary residences, with some requiring a minimum down payment of 5% or 10%, while others may need 20% or more. Different types of cottages also have varying requirements for down payments and may receive different treatment from lenders. Mortgage options depend on the property type, categorized as year-round accessible or seasonal, and down payments can be incorporated via mortgage refinancing, HELOC, or reverse mortgage. Canadians looking to invest in vacation properties can benefit from innovative tools for a streamlined process and accurate information, making it easier to navigate the mortgage approval process.