Recently, there has been an increase in the number of Canadians investing in vacation properties. Vacation homes present the opportunity of relaxation, family bonding and wealth-building. Financing such properties has been made easy with accessible mortgages that have low-interest rates. Mortgages are available for properties such as non-winterized or remote locations, lake cottages, college housing and different types of cottages. Nevertheless, lending criteria for secondary homes differ from those for primary residences, where different categories of homes require different down payment percentages. To streamline processes and ensure accuracy, Canada has innovative tools to help with mortgage refinancing, HELOC, or reverse mortgage, and provide a quick mortgage pre-approval process.