A growing number of Canadians are choosing to invest in vacation properties in order to have a place for relaxation, wealth-building, and family bonding. Accessible mortgages with low rates are available for various types of vacation properties, including non-winterized or remote locations, such as lake cottages or college housing options. Different lending criteria apply to second or third homes compared to primary residences, with some properties requiring a minimum of 5% or 10% down payment while others may need 20% or higher. Mortgage options are determined by the property type, whether it is categorized as year-round accessible or seasonal. Various methods, such as mortgage refinancing, HELOC, or reverse mortgage, can be used to incorporate down payments. Innovative tools in Canada can assist in a streamlined and accurate mortgage pre-approval process.