Looking to purchase your own little getaway?

Canadians continue to look at more home ownership options, whether that is a vacation home, cottage getaway, cosy ski chalet, or a second property while children attend university.

The appeal of a vacation or second home is often as much economic as it is emotional, because another property can makes sound financial sense over the long term. Bringing this investment within reach are some excellent financing options.

Financing options

There are several different routes you can take: you may want to use the equity in your principal residence to finance your vacation property or second home, or you may opt to take out a secured line of credit or second mortgage on your principal home. You could also consider financing the vacation property on its own merits. Most lenders look for a well-built property, in a good location, and with year-round access.

Not sure if a vacation or second home is within reach? Talk to us!