FAQ

How can First Financial's Rent-to-Own program help me?

Anyone can Rent-to-Own, but it is primarily geared towards people who want to own their own home, but cannot get a traditional loan because of:

  • Lack of time on the job
  • Non-traditional income or income which is hard to verify
  • Lack of established credit history
  • Bad credit history

With our Rent-to-Own program, you can fix these problems while you are living in the home and purchasing with our lease-option contract.

Housing prices in and around the Quad Cities have been increasing over the last several years, but our Rent-to-Own program locks in today’s price for you.  This program allows you to build equity while also reaping the benefits of any future increase in the value of the home!

How does Rent-to-Own work?

Here’s how our Rent-to Own program works:

  • Your total monthly payment is set up similar to a bank loan.  If you were purchasing through a bank, each month a portion of your payment would be applied towards interest, another portion towards principal, and another portion would go towards real estate taxes and insurance. With our program, things are very similar.  Under Rent-to-Own (also known as a “Lease-Option”), the portion that would represent principal is called the “option” payment, and the portion that would represent interest, taxes and insurance is called the “rent” payment.
  • If you make your payments on time each month, your new lender will take a look at your payment history and, if it is good, they may allow you to finance the purchase of your home. This is an opportunity you might never get if you were trying to purchase without first proving yourself through a program such as our Rent-to-Own Program.
  • The down payment amount is negotiable, and it is based on things like credit, income and the purchase price. Rest assured, we will work with you to try and make this something that is affordable for you.  We want to help.  Whether or not you qualify for financing to pay the home off, we are willing to provide a longer term financial arrangement.  So, stop renting and start owning your own home now, with our exclusive Rent-to-Own opportunity!
How do I get started?

First, go to one of our Open Houses or schedule a private showing with Geoff by calling him at (563) 209-5056.

Then after you find the home you want, you may set up an appointment to apply for the home by calling Chuck at (563) 499-7994.

You will need to bring proof of your income, such as your last W-2, recent pay-stub, tax return or other documentation to the appointment. You will also need to fill out an application, so bring contact information for your employment, landlord, credit references and personal references.

Once you are approved for the home, a closing date will be scheduled where you will sign the final paperwork and you will be given the keys to your new home.

How do I get to your office?

The best way to get to our office from I-74 is to take the Middle Road exit and head east. (If you are coming from Davenport, take Locust Street east towards Bettendorf, where the name of Locust Street changes to Middle Road).

Stay on Middle Road until you get to the stop light at the intersection at Middle Road and 18th Street.

Turn left (north) onto 18th Street. Stay on 18th Street (for a few blocks) until you see Harris Pizza on your left.

Turn left into the Harris Pizza driveway – but don’t go into the Harris Pizza parking lot – instead follow the driveway until you get to the stop sign at the end of the driveway.

Turn left at the stop sign into our parking lot. The entrance door to our office is to the left of United Insurance.

Follow the hallway until you get to our office – First Financial.

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