Vacation Home

Whether you’re looking for a second home that can be used for year-round enjoyment – or a cottage for weekend getaways – The Mortgage Architect’s Vacation Home Mortgage could be the ideal solution for your borrowing needs

What type of Properties are Eligible?

A vacation property is for recreational use and can come in many forms: cottage, ski chalet, cabin etc. A second home is used more traditionally for long commuters, retirees, university residence, etc. In both cases, lenders assume that the buyers of the property will either use it themselves or allow it to be used by family members on a rent-free basis.

Customized Mortgage Solutions

We understand that vacation properties are all different, and that your financing needs are unique. The experts at the Mortgage Architects will make a customized financing plan based on the type of property and your specific usage.

Minimum Down Payment Required

The Mortgage Architect’s Vacation Home Mortgage solution lets you finance up to 95%1 of the value of your vacation home. That means you could own your vacation with as little as 5% Down payment.


buying a home and applying for a mortgage process

Required Mortgage Documents Checklist

  • Current employment and amount of income such as:
    • Copy of recent pay slips
    • Evidence of recent pay deposited electronically
    • T1 General and associated Notice of Assessment (NOA)
  • Previous employment (if required)
  • Additional income sources (if any)
  • Savings or investments statement from within the last 90 days
  • Sale of an existing property – a copy of the sale agreement
  • Withdrawal from RRSP through the Home Buyer’s Plan, if applicable
  • Gift Letter
  • A list of current assets and liabilities
  • Bank account and transit number for payments
  • Your CIBC Pre-Approved Mortgage Certificate, if applicable
  • A copy of the real estate listing
  • A copy of the accepted purchase and sale agreement
  • The property’s full address, including legal description and postal code
  • Property tax estimates, condo fees and heating costs, (usually available on the real estate listing)
  • For rural properties, well and septic certificates
  • Lawyer’s name, address, postal code, telephone and fax number