best mortgage rates Mississauga

Vacation and Second Home Mortgages: Your Getaway Starts Here

Whether it’s a peaceful cottage or a city second home for family, Vacation and Second Home Mortgages make your dream a reality. At Khan Mortgages, we help Mississauga residents secure the best terms for their secondary residences with expert, tailored advice.

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best mortgage rates Mississauga

Professional Financing for Your Recreational & Secondary Properties

Securing Vacation and Second Home Mortgages requires navigating specific criteria that differ from a primary residence, particularly regarding property accessibility and winterization. At Khan Mortgages, we specialize in finding the right fit for your lifestyle, whether you need a First Mortgage for a year-round secondary home or a specialized Private Mortgage for a seasonal cabin. We ensure your purchase aligns with the Canada Mortgage and Housing Corporation (CMHC) Second Home guidelines, which allow for a down payment as low as 5% on properties under $500,000, provided they feature year-round vehicular access. Our team at Khan Mortgages understands the nuances of the 2026 market, helping you evaluate whether to refinance your current home or take out a Second Mortgage to fund your retreat.

 

From Mississauga to the heart of cottage country, we provide the localized expertise and competitive rates you need to expand your real estate portfolio safely. Contact Khan Mortgages today to speak with a professional and secure the best rates for your vacation and second home mortgages.

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A serene lakeside cottage representing vacation and second home mortgages available through Khan Mortgages in Mississauga.

Financing can be particularly difficult for properties with limited access or services. Fortunately, there are still options available that offer competitive rates.

 

Certain lenders provide high-ratio mortgage options with a minimum down payment of just 5%, depending on the type of property you’re interested in. In some cases, a higher down payment of 20% or more may be required based on the property type, purpose, and year-round accessibility. Alternatively, refinancing your existing home to add a second property to your mortgage could also be a viable option.

 

Let a Khan Mortgage professional answer any questions you may have.

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Private Mortgage

Looking for a loan or a mortgage when you have a bad credit score or a bankruptcy in your name can be highly frustrating. Helping you get the Private Mortgage you need.

Bad or Poor Credit

Do you have bad or poor credit and are trying to get a mortgage but it's proven to difficult? We might be able to help. We have options to help those with bad credit get the mortgage they need.

Home Equity Line of Credit (HELOC)

A HELOC can be a great way to access needed money for those important things that come up in life. Helping you get the Home Equity Line of Credit you need.

Self-Employed Mortgages

We work with lenders from all across Canada that offer excellent mortgage options for self-employed Canadians like yourself. Helping you get the Self-Employed Mortgage you need.

Vacation and Second Home Mortgages

Why Choose Khan Mortgages?

    • Low Down Payment Options: Access CMHC-insured programs for second homes with as little as 5-10% down.

    • Flexible Property Standards: We have lenders for both “Type A” (year-round) and “Type B” (seasonal) vacation properties.

    • Equity Takeout Experts: We can help you use the equity in your Mississauga home to buy your vacation property cash or fund a large down payment.

    • Streamlined Approvals: Our 2026 digital application process ensures your secondary home closing is as smooth as your first.
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How does it work?
How do I get started?

At Khan Mortgage, we’ve simplified the mortgage process to make it as easy and seamless as possible. Our network of experienced mortgage professionals will guide you through every step of the way.

1. Find an Agent or Broker

Find the expert you want to collaborate with.

2. Apply Safely Online

Approximately 5 minutes is all you need.

3. Get Your Funding Fast

When all goes according to plan, funding is swift!

(416) 807-5050
best mortgage rates in Mississauga

frequently asked questions

Find answers to your most pressing mortgage questions in our Frequently Asked Questions section.

For a secondary home intended for year-round use (Type A), you can qualify with as little as 5% down for the first $500,000. For strictly seasonal cottages (Type B), lenders typically require a minimum of 10% down. Khan Mortgages can help you determine which category your dream property falls into.

Yes. Under current CMHC rules, a borrower can have two insured properties at any given time (one primary residence and one secondary home). This makes Vacation and Second Home Mortgages highly accessible for Mississauga families looking to grow their lifestyle.

For the best rates and lowest down payments, properties must have year-round vehicular access (including via ferry or bridge). If your cottage is “water-access only,” you may need to look at Private Mortgage solutions, which Khan Mortgages can expertly facilitate.

If the property is strictly a second home for your use, you generally cannot use projected rental income. However, if you are buying it as an investment property, different rules apply. Contact Khan Mortgages today to see which mortgage structure saves you the most money based on your usage plans.