Client Comments
Thank you so very much for putting so much effort and time for helping us.

-DARIO & MORCIA S., OAKVILLE

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We were so happy that you were able to provide us with construction financing. The draw amounts work fine with our builder and we plan to refer anyone building a house. Thanks again.

-TOM & SHAUNA D., TORONTO

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Hi Joe

Just wanted to pass on our thanks again for all your help with securing our mortgage.

In hindsight, we would have to say that the entire process of buying for the first time went really well and we managed to avoid a lot of the headache and inconvenience that others seem to come across.

Certainly in regard to arranging our mortgage, things could not have been easier for us and we have you to thank for that.

Your patience and attention to detail was greatly appreciated.

All the best,

. Aghazzarian & L. Marino

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Truly Professional

Joe helped us out with our financing and all the questions we asked. The rates and service was excellent and he even came to our house to sign all the papers.

We have recommend him to our co-workers, friends and family.

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Mortgage Needed In a Hurry!

We needed to arrange something quickly and Joe Walsh was able to provide us with a commitment on the same day;

I would definitely recommend Joe.

A Satisfied Customer!

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We supplied Joe Walsh with all of the pertinent information and we were able to sit back and relax while Joe took care of everything.

He examined all of the possibilities and came up with one that best suited our needs.

Joe took all of the shopping and confusion out of the experience and made it simple for us.

We have used Joe several times in the past and will continue to do so in the future.

He is knowledgeable, professional, there to service quickly & promptly without the stress that normally comes along with this sort of decision

Cottage Loans & Mortgages

“Let Me Show You Exactly How To Locate And Secure Cottage Loans And Mortgages For Resort Properties”


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As an Ontario based mortgage broker, I get a lot of mortgage applications from clients seeking Canadian cottage mortgage financing from nearby cottage country.

And that’s not to say there aren’t lots of cottages and vacation homes in other parts of Canada requiring financing, but I sure see a lot of activity from right here in Ontario.

Cottage mortgage financing can be trickier than a traditional residential home mortgage sought for purchase or mortgage refinancing for a number of reasons that I’ll go over in a minute.

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But pretty much like anything else related to seeking a mortgage, your best starting point is to give me a call so we can go over your situation and options together, helping you avoid any frustrations and delays in the process.

Cottage properties that more resemble traditional residential homes in that they are in well developed areas and are occupied on a year round bases have more financing options available to them in terms of mortgage products and the related rates and terms. As cottage homes move away from what a lender would view as a “year round” cottage, the mortgage options decrease. This is largely to do with how the lender values the underlying security offered by the property.

In situations where a cottage is located in the middle of nowhere, the cottage property will be harder to resell and it will also be harder to determine what the resell value may actually be. So mortgage lenders end up taking a more conservative approach towards properties that do not exist in well established and active markets.

A second aspect of cottage financing is related to your ability to service debt, especially if you already have an existing mortgage on your primary residence. A cottage mortgage can in many cases be an additional mortgage held by the same family, so the percentage of your available income that is allowed to service a mortgage payment can be easily exceeded with a request for a mortgage for a cottage property.

Cottages tend to classed as either Type A or Type B properties for mortgage purposes.

Type A properties have a residential zoning and are used for residential purposes. These properties can be in rural areas and seasonally used. They must have a working central heating system and road access that is available year round.

Type B properties are largely those cottages that don’t meet the requirements of Type A. For instance, central heating is not a requirement, and they do not have to have year round road access.

Type A properties can receive a mortgage up to 95% of the value of the cottage with favorable interest rates and terms while Type B properties tend to have higher rates and typically aren’t eligible for mortgage financing above 75% of the value of the property.

Mortgage lenders can focus their programs on a more regional basis with different areas of Canada having access to similar or completely different programs and lenders.

Amortization periods do not typically go beyond 25 years and in some cases additional fees may be required to secure financing from some sources.

As a direct alternative to bank and institutional lenders, there are also private mortgage financing solutions to consider as well.

So while there are some notable differences between cottage financing and residential home mortgages, the cottage and vacation home mortgage market is significant in size and pretty well services by mortgage companies in most regions.

Click Here To Call Joe And Get Immediate Assistance With Your Cottage Mortgage Requirements

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