An increasing number of Canadians are choosing to invest in vacation properties for various reasons. These properties offer opportunities for relaxation, wealth-building, and quality family time. The good news is that accessible mortgages with low rates are available for vacation properties, including those that are non-winterized or located in remote areas. Whether you're looking for a lake cottage or a housing option near a college, there are mortgage options to suit your needs. However, it's important to note that different lending criteria apply to second or third homes compared to primary residences. The down payment requirements also vary depending on the type of property, with some vacation and secondary homes qualifying for a minimum of 5% or 10% down payment, while others may require 20% or higher. To make things easier, innovative tools are available in Canada to streamline the mortgage process and ensure accuracy. For complete information and a quick mortgage pre-approval process, reach out to us.