An increasing number of Canadians are choosing to invest in vacation properties for various reasons such as relaxation, wealth-building, and family moments. These properties include non-winterized or remote locations and can be financed through accessible mortgages with low rates. Depending on the purpose of the property, whether it be a lake cottage or college housing option, different lending criteria apply compared to primary residences. Down payment requirements also vary, with certain vacation and secondary homes qualifying for a minimum of 5% or 10% down payment, while others require 20% or higher. The type of property, categorized as year-round accessible or seasonal, also determines the available mortgage options. Various methods, such as mortgage refinancing, home equity line of credit (HELOC), or reverse mortgage, can be used to incorporate down payments. Innovative tools are available in Canada to streamline the mortgage process and ensure accuracy. For complete information and a quick mortgage pre-approval process, individuals can reach out for assistance.