Vacation Home Mortgages and Second Homes
Vacation Home and Cottage Mortgages in Ontario
Cottage Country and Beyond
From Muskoka cottages to U.S. sunbelt properties. We structure second-home financing to protect your primary residence equity and optimize your overall portfolio.
Second Home Strategies
Equity Take-Outs
Use your primary residence to fund the down payment for your vacation property.
Cottage Programs
Specialized financing for seasonal, unheated, or island properties.
Cross-Border Financing
Strategic advice for purchasing property in the United States.
Free Second Home Guide
Discover the lending requirements and strategies for purchasing a vacation property.
Open the planner →Mortgage Payment Calculator
Estimate your monthly carrying costs for a second property.
Run the NumbersGet the Second Home Strategy
A clear breakdown of property types, down payment minimums, and how to structure a second mortgage without straining your cash flow.
Common questions
Vacation home mortgage questions
How much down payment do I need for a cottage or second home?
It depends on the property far more than on you. A four-season home with year-round road access, a permanent foundation and a proper water supply can qualify with as little as 5 percent down if you or a family member will live in it. A seasonal cottage, water-access-only, or one with no permanent heat source moves into a different category and typically needs 10 to 20 percent or more.
Send us the listing before you fall in love with it.
Can I get a mortgage on a seasonal or water-access property?
Often yes, but from a narrower group of lenders and on different terms. What the lender is really asking is how easily they could sell it if they had to. Water access only, no winter road, shared or unregistered access, a cistern or lake-draw water supply, a wood stove as the only heat, each of those shortens the list.
None of them is an automatic no. They just need the right lender from the start rather than a decline and a restart.
Can I rent out my second home on Airbnb?
It depends on the mortgage program, and on the town. Some second home mortgages require the property to be for personal use only, while investment-friendly options allow short-term rental income. Several municipalities in Niagara also restrict or prohibit short-term rentals outright, so the by-law can settle it before the lender does.
Tell us the plan and we will match you to a lender that permits it, rather than finding out afterwards.
Is a second home financed differently from a rental?
Yes, and the difference is significant. A second home that you or your family occupy can qualify with a much smaller down payment and better terms. The identical property bought to rent out needs 20 percent down and is underwritten as an investment.
Lenders ask how it will be used and expect the answer to match reality, including if you plan to rent it part of the year. Be straight about the plan and we will find the lender who works with it.
Can I use the equity in my primary home to buy a cottage?
Yes, and it is one of the most common ways it is done. A line of credit or a refinance on your principal residence funds the down payment, and it can be combined with a smaller mortgage on the cottage itself. Sometimes that combination qualifies where a single mortgage on the cottage would not.
Can I use a Canadian mortgage to buy in the US?
Not directly. A Canadian lender will not take a mortgage on US property. There are two normal routes: borrow against your Canadian home through a refinance or a line of credit and buy with cash, or arrange financing through a cross-border lender in the US, which means US credit, US income documentation and a longer timeline.
Most Canadians end up on the first route because it is faster and simpler.
Let’s start with a conversation.
Thirty minutes. No pressure. No rate-shopping. We listen, we ask questions, and we tell you whether the mortgage you are thinking about is actually a win for your future.
Typical 24h-48h turnaround time for a fully underwritten pre-approval.
Who you actually work with
A second home turns on how you will actually use it, not just what it costs. Both of us work every file.
Kelly Foote
Mortgage Broker · FSRA #M21002713
Certified Divorce Specialist · Certified Canadian Reverse Mortgage Consultant
Niagara born and built, and the systems side of how a file actually gets run.
Lisa Reynolds
Mortgage Broker · FSRA #M15000477
Certified Canadian Reverse Mortgage Consultant
30+ years in the industry, and the lender strategy behind the harder files.
Fusion Mortgage Group is a team of licensed mortgage brokers with BRX Mortgage Inc., Mortgage Brokerage #13463.
Ready to make your move?
Whether you're buying your first home, renewing your mortgage, or going through a separation, we're here to help. Book a discovery call or send us a message below.