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Sun May 20 2012 09:18 pm EST - Cottage Financing > Mortgages and Loans

Cottage Mortgages & Vacation Home Mortgages
Owning a vacation or recreation property can be an extremely rewarding experience! Ontario has some of best vacation and recreation real estate available in Canada.
We have lenders and mortgage products that are tailored for this market.

There are generally 2 types of property classifications:

  • Type A: Zoned and used as residential, rural or seasonal; central heating; year-round road access
  • Type B: Central heating not required; seasonal road access is acceptable

Either are acceptable but reflect on the rate and the loan to value that is approved. Type B is sometimes more expensive. You can obtain 95% financing for Type A properties and 75% financing is available for Type B properties.

Some Guidelines:
  • Rates - bank discounted rates for those applicants & properties who qualify
  • Term - any regular bank term
  • Payments - Monthly, Bi-Weekly, Weekly, 25 yr Amortization
  • Available in most parts of Ontario
  • Funding - funding can happen very quickly if all is in order

Financing as high as 100% of the properties value on some properties.

(We can also show you how to use the equity in your principal residence for the purchase of a vacation home) Rates below bank posted! Flexible terms and pre-payment privileges—so you can pay your mortgage off faster! We can finance your dream home!

Visit these links:
Apply Online Now!
To get access to the lowest rates and terms, apply online or call
The Cottage Line 1-877-569-6841.
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Ontario Mortgage Rates

TermBest Rates

Variable- p - .15

2.85%

1 year

3.09%

2 years

3.09%

3 years

3.09%

5 years

3.29%

   
 

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