.png)
Mortgage financing for cottages and vacation homes. Learn the difference between Type A and Type B properties and down payment requirements.
Water Potability: One common hurdle in cottage country is water quality. We know which lenders are flexible on septic and well water certificates, ensuring your financing doesn't fall through on closing day.
Type A vs. Type B: Lenders classify cottages into two buckets. "Type A" properties are fully winterized with permanent heating and year-round road access; these can often be financed with just 5% down, similar to a regular home. "Type B" properties may be seasonal, island-access only, or lack permanent heat; these typically require a larger down payment (often 10-20% minimum) and may have slightly higher rates.
Future Planning: Many clients are buying vacation homes now with the intent to retire there later. We help you structure the mortgage to align with your transition from employment income to pension income.