An increasing number of Canadians are investing in vacation properties to enjoy relaxation, build wealth, and create family memories. Accessible mortgages with competitive rates are available even for non-winterized or remote locations, with different lending criteria applying to second or third homes compared to primary residences. Depending on the type of vacation home—such as a lake cottage or college housing—down payment requirements vary, typically ranging from 5% to 20% or more, with some cottages requiring higher rates. Mortgage options depend on whether the property is year-round accessible or seasonal. Down payments can be incorporated through refinancing, HELOCs, or reverse mortgages. Innovative Canadian tools simplify the mortgage process, providing quick pre-approval and complete information upon request.