1. Depends on how u set up your note, term and interest rate
2. equity, either through the down payment, seasoning or any improvements
3. Credit worthiness of your payors.

Nothing changes for the payor other than who they make their payment to.

1. The first thing is to get the info from your note and settlement statement.  We take that info and calculate the pay price.  That price is a net figure to you.  Quotes are based on credit worthiness, or in some cases by proof of payments, either deposit slips or copies of money orders.  If you accept the offer, we check the credit or whatever needs to be done to prove credit worthiness.
2. You will supply copies of all documents, ie note, deed of trust/mortgage.  In some cases you will only have a land contract, whichever the case.  A copy of your HUD/settlement statement and copy of Hazard/Homeowner’s insurance (if there are structures on the property)
3. After receiving all docs, we prepare an option agreement to send to you.  You will have it signed and notarized, and will return the executed document back to our office. 
4. We order a value report (appraisal/BPO) and open title.
5. After receiving both of these and they are approved by underwriting, we prepare closing docs and schedule a closing date.

Note, Recorded Deed of Trust/Mortgage, HUD/Settlement Statement, Proof of Hazard/Homeowners Insurance (if structures are on property), proof of pay history (copies of checks, money orders, cashier’s checks or bank statements showing deposits), Title policy (if policy was purchased).

Not necessarily.  Good credit helps, but we do not necessarily look at a credit score, but more at the trades, and also the proof of pay history.

Time frame for this can be has short as 1 week, but the average is approximately 3 weeks, title work taking the longest time.

It all depends on your other income on the amount of taxes you will pay, and we are not accountants.