An increasing number of Canadians are choosing to invest in vacation properties for various reasons, such as relaxation, wealth-building, and family bonding. These properties can be easily financed through accessible mortgages with low rates, even if they are non-winterized or located in remote areas. Different lending criteria apply to second or third homes compared to primary residences, and the down payment requirements vary depending on the category of the vacation or secondary home. Certain types of cottages may require a higher down payment and receive higher rates. Mortgage options also depend on the property type, categorized as either year-round accessible or seasonal. Additionally, individuals can incorporate their down payments through mortgage refinancing, HELOC, or reverse mortgage. To learn more and begin the quick mortgage pre-approval process, reach out for complete information and access to innovative tools in Canada.