An increasing number of Canadians are choosing to invest in vacation properties for various reasons, such as relaxation, wealth-building, and family bonding moments. These properties, including non-winterized or remote locations, can be financed through accessible mortgages with low rates. Depending on the purpose of the property, whether it's a lake cottage or a college housing option, different lending criteria apply compared to primary residences. While some vacation and secondary homes may qualify for a minimum 5% or 10% down payment, others may require a higher percentage. The classification of the property and its type, whether it is year-round accessible or seasonal, also determines the mortgage options available. Down payments can be incorporated through mortgage refinancing, a home equity line of credit (HELOC), or a reverse mortgage. Canada offers innovative tools for a streamlined and accurate mortgage process, and more information and quick pre-approval can be obtained by reaching out to the right sources.