When it comes to financing your dream cottage or vacation home, several factors come into play, starting with your personal borrowing power, including credit, income, and existing debts and obligations. Additionally, the type of property you are looking to finance plays a significant role.

Cottage properties can be categorized into three types:

Type A: Offers amenities and services similar to a traditional residence, including a foundation, plumbing, year-round access, and winterization.

Type B: Characterized by seasonal road use, non-winterization, and non-drinkable water.

Type C: Often comprising bare land or small cabins/bunkies. It’s important to note that the quality of the property can affect the availability of affordable financing options.