Chris Eastman

Branch Manager, Producing

Chris Eastman
Branch Manager, Producing

NMLS# 197104
State Lic: Il# 031.0026003; In# 19523; Wi# 197104;
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: Il: 031.0026003; In: 19523; Wi: 197104;

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

Illinois Residential Mortgage Licensee;

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Three Key Factors in Qualifying for a Home Loan

When a mortgage company makes a decision about a home loan application, the lender primarily considers three basic factors:  (1) your ability to repay the loan; (2) your willingness to repay the loan; and (3) the collateral.

Ability to repay the mortgage is determined by verifying your current employment and analyzing your total income.  Lenders prefer for you to have been employed at the same place for at least two years or to at least be in the same line of work for a few years.  Your estimated monthly payment will be compared to your monthly income and debt.

Willingness to repay is influenced by how you have paid previous loans and by examining how the property will be used.  Willingness can be gauged by your credit report and previous commitments to pay rent and/or utility bills. 

Collateral is property that is pledged by a borrower to protect the interests of the lender.

It is important to remember that there are a set of rules each lender uses to assess these factors on each loan and determine if the lender will ultimately lend you money.  These rules are called a Credit Policy.  Each loan application is evaluated individually on a case-by-case basis.  Many loan applications may come up short in one area, but make up for it with other strong points.  These compensating factors may include: a large down payment, extensive educational background, or overall financial health.  Securing mortgage insurance to protect a lender in the event you are unable to make your payments may also impact your qualifying for a home loan.

Contact your Academy Mortgage Loan Officer with any questions about qualifying for a home loan.

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Study: Kids play large role in Americans' housing decisions

Even though parents are the ones with the money when it comes to buying a house, a new study suggests that children play a larger role in housing decisions than some may think. Coldwell Banker Real Estate surveyed 2,000 people in the United States who are millennial parents (between the ages of 18 and 34) and Generation X parents (ages 35 to 49).

Here's what the research showed:

The study points out that these responses are noticeably different from how baby boomer parents (ages 50 to 69) feel. Research revealed that only 52% of boomer parents made major purchasing decisions based on their kids in the past, and only 54% were more concerned about the emotional impact a move would have on their child than the long-term validity of a decision to move.

Why the change in perspective? There are a variety of reasons this shift may have occurred, though analysts point out that it's not that major of a change. When boomer parents were raising kids and they received a good job opportunity, it was often decided that the kids would just have to adjust, said Robi Ludwig, a psychotherapist and the lifestyle correspondent for Coldwell Banker Real Estate. Now, perspectives may have changed, as parents are less willing to shake things up if their children are thriving where they are. Many parents might rather stick with the status quo than go into the unknown.

"What [the shift is] saying is that a slightly greater number of younger generation parents think about the impact on kids than the older generation," Eileen Kennedy-Moore, co-author of "Smart Parenting for Smart Kids," told MarketWatch. 

The jury is still out, however, on whether it's bad or good that kids are playing a bigger role in families' financial decisions today compared to in years past. It depends on the family and the situation, and isn't just black and white.

For any families looking to make a move, a professional mortgage company can help make the process easier.

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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Homebuyer checklist for 2014

Get positioned to buy a home. Those who are considering buying a home in the new year are likely in a good position. Affordability remains historically high, and inventory will be abundant. However, while conditions are ripe for a purchase, there are still a number of things homebuyers will need to do to prepare for what will likely be the largest purchase in their lifetime. 

Whether you are experienced or new to the housing market, buying a home probably seems like a daunting task. With so much to consider, it's important to follow a checklist. Here are some tips to get any potential buyer started with the process:

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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