Canadians are increasingly investing in vacation properties for relaxation, wealth-building, and family moments, with accessible mortgages offering low rates for non-winterized or remote locations like lake cottages or college housing options. Different lending criteria apply to secondary homes compared to primary residences, with some properties requiring as little as a 5% or 10% down payment while others may need 20% or higher. Various mortgage options are available based on the property type, whether year-round accessible or seasonal, and down payments can be incorporated through mortgage refinancing, HELOC, or reverse mortgage. Innovative tools in Canada streamline the process for obtaining information and quick mortgage pre-approval.