Below is a summary of how I got to where I am:Original Estimate (this is what I received when deciding between lenders)Loan Origination - $0Title - Endorsement Fee - $145Title - Lender's Title Insurance - $1,195Title - Settlement Fee - $575Total - $1,915Original Full Loan Packet (This is the full loan packet that I signed once I decided to go with them)Loan Origination - $0Title - Endorsement Fee - $145Title - Lender's Title Insurance - $1,195Title - Settlement Fee - $575Survey Fee - $400Total - $2,315I'll spare everyone the details, but in short for various reasons earlier this week the property sales contract with the seller was updated to increase the Sales Price by $6K and reduce the seller credit toward my costs by $6K (so it should net out the same for me).  

If you "misrepresent" (i.e. lie), it's as if you have no coverage as they can deny all claims.Not every insurance company will do this , but some companies will allow you to buy a rental policy and then add a "vacancy endorsement" for periods of time that it is vacant.

If the company decides to price gouge you, then you can look at your options for recourse.It's probably worth mentioning that the endorsement to cover this is usually pretty cheap, and I always recommend including it in a policy.

@Ming LimI wouldn't bother with the 10-yr term mortgages, the interest rate delta usually negates any false peace of mind.In fact, I would endorse using 5-year term, variable rate mortgages and hedging the interest rate yourself.

But there is a ready made homeowners endorsement for this.

I endorse Bill Gulley's position.

No legal hassles at all.Note that I am not endorsing any given provider or suggesting that my approach is successful or right for you.

@Ben Kurt, the cashier's check is typically made out to yourself, and you endorse it on the back to the trustee if you win the auction.

Why aren't you using the standard contract endorsed by your state association of realtors? 

(not paid to endorse)In very general terms, for wealth accumulation, one needs to have money work for you.