The trend of Canadians investing in vacation properties is on the rise, with many opting to purchase a getaway home for relaxation, wealth-building, and family moments. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, catering to various needs such as a lake cottage or college housing option. Different lending criteria apply for second or third homes compared to primary residences, with certain categories requiring a minimum down payment of 5% or 10%, while others may need 20% or higher. These properties are categorized differently and receive different treatment from lenders, depending on the type of cottage - year-round accessible or seasonal. Innovative tools in Canada streamline the mortgage process, allowing for options like mortgage refinancing, HELOC, or reverse mortgage to incorporate down payments. For complete information and a quick mortgage pre-approval process, individuals are encouraged to reach out.