01
Describe how you will use it
A personal second home, seasonal cottage and rental property may be assessed differently. Be clear about your plans and any expected rental use.
02
Check the property itself
Year-round access, water, heating, construction and location may affect lender eligibility and insurance. Review these details before assuming a standard mortgage will fit.
03
Budget for two properties
Allow for maintenance, travel and carrying costs, even when the property is not in use. Your existing home commitments remain part of the lending assessment.
Bring to your conversation
- Listing and property details
- Intended occupancy and rental plans
- Current housing costs
General information only. Product availability, eligibility and conditions vary by lender and application.