An increasing number of Canadians are choosing to invest in vacation properties for various reasons such as relaxation, wealth-building, and quality family time. Accessible mortgages with low interest rates are available for vacation properties, including those in non-winterized or remote locations. Whether it's a lake cottage or a housing option for college, there are different lending criteria for second or third homes compared to primary residences. The down payment requirements for vacation and secondary homes vary, with some properties qualifying for a minimum of 5% or 10% down payment while others require 20% or more. Different types of cottages also have different requirements, impacting the down payment and interest rates. Mortgage options are dependent on whether the property is year-round accessible or seasonal. Down payments can be incorporated through various methods such as mortgage refinancing, HELOC, or reverse mortgage. Canadians can take advantage of innovative tools available for a streamlined and accurate mortgage process, and can reach out for complete information and a quick mortgage pre-approval process.