They look at factors like how old he will be when the loan is matured, whether you are healthy or not, the value of a collateral, or how long he has been working at a company etc. 

It is not only time consuming but frustrating too.

All signs of stress.”Inflation Numbers this WeekThe Consumer Price Index measure of inflation increased .4% in February (seasonally adjusted), after rising .3 % in January, or 3.2% YoY (BLS).

@Jolene Blackbourn go Google Consumers Reports, which pretty much advises against all retail warranties.Majority are setup to string you along and wear you out, so you have the work done, which then negates their coverage.

Which are the hardest to deal with, and which are the most time-consuming?

Now, I'll be honest with you all – there's a healthy dose of nerves coursing through my veins as I step into this arena.

Although based on my research too, being a loan officer is very time consuming too.

It also can get challenging to set a price now to possibly buy in the future that the owner and you will feel is fair (with markets still appreciating at a healthy pace).You can also keep your eyes open for a seller willing and able to do a land contract with you (but there usually would want much more money down and likely want a full pay off in a few years, but can see what you can negotiate on terms).I agree nothing illegal about options/option fees in WI to my knowledge, but generally seem much less frequently used in single residential transactions than commercial transactions where due diligence and closing timelines may be very drawn out.

I think it will actually cost consumers more. 

At a minimum it would reduce some of the consumers options and flexibility in transactional structure.