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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ARTICLES

Read these articles to educate yourself on the mortgage process and industry.

VIDEOS

Watch helpful videos to learn more about Academy.
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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How to Improve Your Credit

If you’ve had credit problems, be prepared to discuss them honestly with your mortgage professional.  Responsible mortgage professionals know there can be legitimate reasons for credit problems, such as unemployment, illness, or other financial difficulties.  If you had a problem that’s been corrected and your payments have been on time for a year or more, your credit may be considered satisfactory.

If you currently have excess debt, there are four ways to control it:

  1. If your credit is not in terrible shape, you can reduce your other expenses, even if it means making hard choices or changing your lifestyle to fit your income.  Consider selling a second car, taking equity out of your home, applying for a non-secured signature loan, obtaining a loan from a relative, selling family heirlooms or jewelry, cashing out your 401(k) or other retirement benefits, or selling your home and paying off your debts with the proceeds and then renting.  (Note:  Taking money from your retirement accounts or tapping the cash value of your life insurance policy to pay bills or living expenses may have serious implications you haven’t considered, so get advice from an expert before you take any major financial actions.)
  1. If your credit is already damaged or one of the above isn’t an option, go through your local Consumer Credit Counseling Services (CCCS).  CCCS may be able to help you pay off your debts as if you were in a Chapter 13 bankruptcy, but you don’t actually file for bankruptcy.
  1. If CCCS won’t take you, you may want to consider bankruptcy.  Claiming Chapter 13 bankruptcy takes longer than a Chapter 7, but your credit will end up in a little better standing.  Chapter 13 bankruptcy gives you up to five years to pay off your debts.  The disadvantage is that you’re in bankruptcy for up to five years, plus your credit report shows your bankruptcy for seven more years after you have finished paying off your debts.
  1. If you are so far in debt that you can never repay it, then the best solution may be a Chapter 7 bankruptcy.  A Chapter 7 bankruptcy is the least desirable from a credit standpoint, but you are typically out of bankruptcy in six months and you don’t have to repay most debt.  The disadvantage is that this shows on your credit report for ten years from the date of filing your bankruptcy.  Creditors are tightening their credit requirements, and you may have a tough time getting future financing.

If your debts are under control now but you want to improve your bad credit history, the most important factor is to make your monthly payments on time.  Late payments may mean late fees, higher interest, and/or a negative mark on your credit report.  Send your payment as early as possible if you carry a balance.  Most companies calculate interest on a daily basis, so the sooner they receive your payment, the less interest you’ll pay.

If you are worried about making payments, make a list of your debts and when the payments are due.  If you think you will have trouble meeting the monthly payments, contact your lenders immediately to arrange a payment schedule.

Please do not hesitate to contact your Academy Mortgage Loan Officer if you have any questions or are experiencing any difficulties with your mortgage.

 

Academy Mortgage and its employees do not provide credit repair or credit counseling services.  Each state has its own bankruptcy laws, so you need to check with your state for details.  The information provided is for general information purposes only and is not intended to be a legal opinion or legal advice, nor is it intended to be a complete discussion of all the issues related to credit or bankruptcy.  Every individual’s factual situation is different, and you should seek independent legal advice regarding your specific situation before undertaking any course of action.

 

 

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Choosing a Loan Program

There isn’t a single or simple answer to the question: “Which loan program should I choose?” The right type of mortgage for you depends on many different factors, including:

For example, a 15-year fixed-rate mortgage can save you many thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher than with a 30-year fixed-rate mortgage.  An adjustable-rate mortgage may get you started with a lower monthly payment than a fixed-rate mortgage, but your payments could greatly increase when the interest rate changes.

The best way to find the “right” answer is to discuss your current finances, your financial prospects, and your preferences frankly with an experienced mortgage professional, and make sure you analyze all of your options. Contact your Academy Mortgage Loan Officer 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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