More and more Canadians are choosing to invest in vacation properties, whether it's for relaxation, building wealth, or spending quality family time. Vacation properties, including non-winterized or remote locations, can be financed with accessible mortgages offering low rates. Whether you're looking for a lake cottage or a potential housing option near a college, there are various mortgage options available to suit your needs. However, it's important to note that second or third homes have different lending criteria compared to primary residences. While some vacation and secondary homes may require a minimum of 5% or 10% down payment, others may require 20% or more, depending on the category they fall under. Different types of cottages may also have specific requirements, such as higher down payments and rates. The flexibility of mortgage options depends on whether the property is categorized as year-round accessible or seasonal. For those looking to incorporate their down payments, options like mortgage refinancing, HELOC, or reverse mortgage can be explored. Canada offers innovative tools that streamline processes and ensure accuracy, so reaching out for complete information and a quick mortgage pre-approval process is highly recommended.