Cottage / second home
Financing your cottage or second home in Quebec.
The cottage in Mont-Tremblant, the condo in Charlevoix, the country house in the Eastern Townships. To you it's a life project. To the lender, it's a different file: higher down payment if seasonal, road accessibility in winter, drinkable water, and the ability to carry two mortgages. An AMF broker identifies the lender programs that accept this profile — not all do.
Who this is for
- You're buying a 4-season cottage or seasonal cottage in Lanaudière, Estrie, Laurentides, Charlevoix.
- You're buying a vacation condo (Mont-Tremblant, Mont-Sainte-Anne, Bromont).
- You're buying a secondary home for elderly parents (multigenerational housing).
- You want to convert your cottage into a primary residence (full-time move).
- You're combining a second home purchase with a refinance of your primary home (down payment).
What brokers in the Courteo network look at
Dual debt and seasonal nature are the two classic pitfalls. An experienced AMF broker knows lenders flexible on these criteria.
FAQ — cottage and second home
Minimum down payment for a cottage?
5% minimum if you (or a relative) live there and it's 4-season year-round accessible (CMHC Type A program). 10-20% if seasonal or unoccupied. If you rent it on Airbnb: 20% minimum (treated as investment).
My cottage is only accessible in summer — can I still finance it?
Yes but the lender pool narrows and the down payment goes up (often 25%). Cottages only accessible by boat or snowmobile are the hardest. The AMF broker from the Courteo network identifies the rare lenders who accept.
Can I carry two mortgages at the same time (primary + cottage)?
Yes if your GDS/TDS ratios allow it. The lender adds both payments to calculate your capacity. Tip: if your primary has significant equity, refinance it to generate the cottage down payment — a broker structures this scenario.
My cottage will generate Airbnb income — does it help my file?
Not as much as you'd hope. Without a documented 2-year history, the lender ignores projected Airbnb income. With history, sometimes 50% counts. The cottage will be treated as investment (20-25% down).
What specific checks for a regional cottage?
Drinking water test (bacteria + nitrates), septic compliance (Q-2 r.22), structural inspection if old wood construction, zoning verification (residential vs vacation), road access. The broker refers you to a certified regional inspector.
Ready to buy your cottage?
2 minutes to start. A Courteo Prêts coordinator calls you within the day to clarify the project (cottage, vacation condo, second home) and connect you with an AMF broker who knows second-home lenders.