On one hand, you're covered by the cancellation policy, so technically you're in the right to keep the fee.

What Are Your Fees and Costs?

That would need to be factored in. 2.

A simple information report (again fill in form) takes 3 minutes and no fee.  

If pets are in the house then there is a nonrefundable $200 pet deposit and a $50/month pet fee.

For each tenant we paid him a fee.

You will more than likely get a higher rate then what you have now but its a simple short term loan that you can refinance in 12 months to lower the rate when rate drop next year (which they will).Use the cash for the DP but I would also advise taking out just a little more as a "What if factor" to cover any unforeseen issues or last minute repairs.

How often do the fees increase?  

Of course, many more fees go into the final sale of the property but, I still believe it would still be cheaper than trying to buy a home in the US.

HOWEVER, your upfront fees will be hefty thanks to the loan level price adjustments (LLPA) on a 90% second home.