Chris Eastman

Branch Manager, Producing

Chris Eastman
Branch Manager, Producing

3701 Algonquin Rd
870
Rolling Meadows, IL 60008
Mobile: (847) 609-9224
Fax: (630) 206-1088
chris.eastman@academymortgage.com

As a distinguished member of the real estate finance industry for the last 16 years I have and continue to pride myself on the ability to exceed my clients’ and trusted partners’ expectations. My commitment to the industry has allowed me to participate in a wealth of educational opportunities and industry designations that have given me the insight to better assist even the most challenged borrowers. As an employee of Academy Mortgage Corp., a progressive national mortgage banker, I have broadened the scope of available products and programs to bring home ownership access to the largest prospective client base.

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We are proud to be one of the top independent purchase lenders in the country. We achieved this distinction by continually providing exceptional customer service and by following responsible lending practices, especially in today’s rapidly changing economy.Adam Kessler, President, Academy Mortgage

NMLS# 197104

State Lic: Illinois MLO: 031.0026003; Indiana DFI-MLO: 19523; Wisconsin MLO: 197104;

Corp Lic: IL: MB.6760661; IN: 10966;

Illinois Residential Mortgage Licensee;

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Fannie Mae helped finance $28.8 billion for multifamily housing in 2013

The housing market saw a revival in 2013, as evidenced by a recent report. According to Fannie Mae, it provided $28.8 billion in financing for multifamily loans last year, with help from its Delegated Underwriting and Servicing (DUS) program. 

"I am proud that Fannie Mae continued to serve the multifamily market in 2013 with $28.8 billion of new acquisitions," said Jeffery Hayward, senior vice president and head of the multifamily mortgage business at Fannie Mae. "The need for quality, affordable rental housing is greater today than it's ever been, and we will continue to do our part by providing liquidity, stability and affordability to the multifamily market and maintaining our credit standards. Over 85% of the multifamily units we financed in 2013 were affordable to families earning at or below the median income in their area."

The report also indicated that the financing was for 507,000 multifamily housing units, showing just how many Americans benefited from the wide array of mortgage options available. Fannie Mae credits the help to its DUS program, as it provided swift execution, delegated underwriting and servicing, competitive pricing and credit risk management. 

Other signs of recovery. Aside from the clear availability of financing in 2013, the fact that mortgage delinquencies have declined for the last four years is another signal that the housing recovery is on strong footing, Black Knight Financial Services reported. 

"In many ways, 2013 marked an abatement to crisis conditions in the U.S. mortgage market," said Herb Blecher, senior vice president of the data and analytics division at Black Knight Financial Services. "Delinquencies neared pre-crisis levels, foreclosure inventory declined 30% over the year, new problem loan rates improved in both judicial and non-judicial foreclosure states, and foreclosure starts ended the year at the lowest level since April 2007." 

The report also showed that 2013 was the strongest year for home sales since 2007, as they were better through November alone than they were during the entire year in the three years before. 

Blecher accredits that decline in delinquencies to the rapid price appreciation seen last year. Home prices rose 8.5% in November compared to the year before, HousingWire reported. As these gains were common throughout 2013, more homeowners were able to watch their equity improve. 

Those looking for an affordable housing loan can be confident the market will continue to show strong gains in the new year. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Happy National Homeownership Month!

While the advent of summer is likely enough to get you excited, there's another reason to celebrate this June: It's National Homeownership Month. This provides an opportunity to reflect on how the American dream of owning a house has impacted the lives of millions of people across the country.

Being a homeowner gives you more than just a roof over your head. As the property's value appreciates, you gain equity that can be used to help pay for important life expenses like college tuition. Many costs related to owning a home are also tax-deductible.

Homeownership a reality for many Americans. With the housing market doing as well as it has this year, more Americans are finding homeownership affordable. According to a report released at the end of April by the Department of Commerce, the homeownership rate in the first quarter of 2014 was 64.8%. This is a slight drop (0.2 percentage points) from the same time period in 2013, but it's still a strong statistic and will likely improve as we move into summer.

Here's what else the report showed:

Conventional mortgage rates are at their lowest levels of the year, according to Freddie Mac's latest Primary Mortgage Market Surveys, and Americans are feeling optimistic about the market, the Mortgage Bankers Association has reported. If these don't signify a great time to buy, what does? 

For anyone thinking about getting into the market and becoming a homebuyer for the first time, a professional mortgage company can help. Everyone deserves to achieve the dream of owning a home someday, and the process doesn't have to be intimidating if you have the right assistance.

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Considering Refinancing?

When you’re making the decision to refinance, there are several things to keep in mind.

First, if your current interest rate is significantly higher than today’s lowest rates, you may be able to roll your loan costs into your new mortgage and still get a lower rate than you have, thereby reducing your interest payments and lowering your monthly payment immediately.

Second, if you are planning to stay in your home for at least three to five years, it may make sense to pay “points” (a point equals 1 percent of the loan amount) and closing costs to get the lowest available rate.

And third, you can avoid laying out cash and still get a low rate by adding the points and closing costs to your new mortgage.  Does that mean shouldering a lot of extra debt?  Not necessarily.  If you’ve had your current mortgage for at least three years, you’ve probably reduced your balance by several thousand dollars.  So you may be able to tack your closing costs onto your new loan and still end up with a mortgage that’s smaller than your original loan—with a lower interest rate and lower monthly payment.

You also may want to consider lowering the term of your loan to pay off your home sooner.  This option may raise your monthly payment, but may save you a substantial amount of interest over the term of the loan.

You also may want to consider a fixed-rate loan, which has an interest rate that is fixed for the entire term of the loan, as compared to a variable-rate loan, which has an interest rate that can increase or decrease based on the short-term indexes.

Contact your Academy Mortgage Loan Officer to see if refinancing is a good option for you.

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