Broker Resources

Approved! Mortgage on a second home in Calabogie

We used Canadian Child Benefit to qualify this mortgage on a second home in Calabogie, ON with a 35-year amortization.


  • Second-home
  • Beacon score 690
  • 35-year amortization
  • Approved at 65% LTV
  • 1-year closed


Following a separation, this single parent is purchasing a beautiful recreational four-season cottage in Calabogie – the ideal place to spend quality time with family all year round.

Remote work has become increasingly popular in Canadian lives as a result of the pandemic, and for our client, the new cottage is the perfect workplace and getaway – all in one! With multiple career ventures on the go, our client is a driven professional with a busy home life and demanding career.

Using Canadian Child Benefit income, excellent net worth, and unique property, we approved this deal at 65% LTV on a second home with a 35-year amortization. They will also receive FREE Home System Warranty coverage for the full year term!


Mortgage on a second home

Many Canadians, especially Ontarians, leaped at the chance to move north during the pandemic 2020-2021, which had a significant impact on the cost of a mortgage on a second home in areas like Muskoka, Georgian Bay, Kawartha, PEC and recreational areas around Ottawa.

“That year people were panic-buying cottage properties – you couldn’t even see what the terrain was like. Even island properties were selling in the winter. People were going over on the ice.”

A more normal seasonal pattern has resumed in Muskoka and Lake of Bays as people began vacationing down south and travelling to ski resorts, he says.

Mr. Crammond says a new cohort of baby boomers may sell cottages in the next year or two as they plan for retirement. Record prices may tempt some to move up their plans to sell, he adds. (source)

While markets have cooled somewhat, it’s expected that Canadians will continue to seek solace in cottage communities, especially those who have made the permanent move to hybrid and remote working arrangements.

MCAN Mailing List

Join Our Mailing List

Newsletter Form