Flexible mortgage solutions with expert guidance from Suganthan
Own Your Dream Vacation or Second Home
Imagine Your Perfect Getaway — Let’s Make It Happen
Whether you’re dreaming of a peaceful lakeside cottage, a cozy ski chalet, or a second home near family or work, I’ll help you finance it with ease and confidence. As an experienced mortgage broker, I specialize in helping Canadians secure the right mortgage for vacation homes, second properties, and income-generating getaways — even when banks say “no.”
Why Invest in a Vacation or Second Home?
- Enjoy weekends away or extended vacations on your own term
- Create lasting family memories in your own retreat
- Generate short- or long-term rental income
- Diversify your real estate investments
- Build long-term wealth through property appreciation
- Grow your real estate portfolio while enjoying your property
- Rent it out short-term when you’re not using it — make it work for you
NEW: Buy a Second Home for Your Kids or Parents — With a Minimum Down Payment
If you’re buying a second home for your children attending school or elderly parents, you may qualify for a CMHC-insured mortgage — with as little as 5% down
- Available for immediate family use (not rental)
- Property must be owner-occupied by the child or parent
- Ideal for student housing, elderly care, or keeping family close Let me help you determine your eligibility and secure the best financing option.
- Build wealth through property appreciation
- Create cherished family memories
Common Challenges Buyers Face
Unsure how much down payment is required
Confused about financing rules for seasonal or recreational homes
Don’t know which lenders approve second homes or rental pool properties
Wondering whether to refinance their primary residence for funds
Your Financing Options
Second Home Mortgages
- Year-round accessible homes
- As little as 5% down in many cases
- Owner or family use only
Vacation & Recreational Property Mortgages
- Seasonal-use properties (minimum 20% down typically)
- Must meet basic property standards (utilities, road access, etc.)
Rental Pool & Resort Properties
- Up to 65% loan-to-value (LTV) with specific lenders
- Custom structuring based on property and usage
- Perfect for short-term rentals and Airbnb-style income
Leverage Home Equity
- Tap into your current home’s equity
- Often better rates than standalone vacation property loans
Why Work with Suganthan?
- 18+ years of mortgage experience
- Thousands of happy clients across Canada
- Deep knowledge of second-home financing
- Access to both traditional and alternative lenders
- Personalized advice — I work for YOU, not the bank
- Fast, responsive service — online, phone, or in person
Budget for closing costs
Set aside 1.5–4% of the purchase price.
Get preapproved
Know your budget and lock in your interest rate.
Work with professionals
Choose an experienced mortgage broker and real estate agent.
Check your credit
Better scores mean better mortgage terms
Think long-term
Choose a property that fits future needs too.
Real Client Success Stories
Frequently Asked Questions (FAQ)
What is the minimum down payment for a second home or vacation property?
For a year-round accessible second home used by you or your family, the down payment can be as low as 5% with an insured mortgage. For seasonal or recreational properties, the minimum is typically 20%.
Can I rent out my vacation home when I’m not using it?
Yes, many lenders allow short-term rentals (like Airbnb or VRBO) depending on the property type and location. I’ll help structure your mortgage so it fits both personal use and income generation.
Can I use the equity from my current home to buy a second property?
Absolutely. Many clients use a home equity line of credit (HELOC) or refinance their current mortgage to fund the down payment or even buy the vacation property outright — often with better terms.
What if I want to buy a home for my parents or child going to school?
CMHC allows insured mortgages with as little as 5% down for immediate family members. This is a great option for student housing or supporting aging parents — as long as it’s owner-occupied.
Can I get approved even if my bank said no?
Yes. I work with a wide range of non-bank and alternative lenders who are more flexible, especially for vacation, rental, or non-traditional properties. I’ll help match you to the right lender.