Canadians are increasingly investing in vacation properties for relaxation, wealth-building, and family gatherings, with accessible mortgages offering low rates even for non-winterized or remote locations. Different lending criteria apply to second or third homes compared to primary residences, with some vacation and secondary homes qualifying for minimum down payments of 5% or 10%, while others require 20% or higher. Cottages also have varying requirements, with certain types necessitating higher down payments and receiving higher rates. Mortgage options are based on the property type, categorized as year-round accessible or seasonal, and down payments can be incorporated through methods such as mortgage refinancing, HELOC, or reverse mortgage. Innovative tools in Canada can streamline processes and ensure accuracy, making it easy to obtain complete information and quick mortgage pre-approval.