Chris Eastman

NMLS# 197104

Branch Manager, Producing

Chris Eastman
Branch Manager, Producing

NMLS# 197104
State Lic: WI # 197104; IL # 031.0026003; IN # 19523;
3701 Algonquin Rd
Suite 870
Rolling Meadows, IL 60008
Direct: (847) 454-0341
Mobile: (847) 609-9224
Fax: (630) 206-1088
chris.eastman@academymortgage.com

Academy's My Mortgage App

As a distinguished member of the real estate finance industry for the last 20 years I have continued 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 Corporation, a progressive national mortgage lender, 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.
Chris has an excellent understanding of the whole process and is willing to share that knowledge with us the clients. He is happy to have an hour long discussion on the intricacies of mortgage backed securities and how they relate to a specific situation. He is also happy to show the details of the loan so you can dive in as deep as you want to go in learning about the world of mortgages. As he is a lender, not a broker, he doesn't try to mark up the loan additionally like a broker would.Jeffrey Miller

NMLS# 197104

State Lic: WI: 197104; IL: 031.0026003; IN: 19523;

Corp Lic: WI: 3113BA and 3113BR; IL: MB.6760661; IN: 10966;

www.nmlsconsumeraccess.org;

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INSPECTION VS. APPRAISAL

What’s the Difference?

When purchasing a home, buyers may receive two property-related reports to consider—a home inspection and a home appraisal. These reports serve completely different purposes, and one is optional and one is required by Academy Mortgage.

Home INSPECTION:

DETERMINES PROPERTY CONDITION
This report is ordered by and completed solely for the individual(s) purchasing the home. It helps determine the condition of the property and its systems in great detail. It is not required by Academy and is, therefore, optional.

HOW MUCH DOES IT COST?
$350–$550
Home inspection costs vary depending on the complexity of the inspection and the size of the home being inspected.

HOW AND WHEN IS IT ORDERED?
A home inspection is ordered by the buyer and his/her agent with an inspector of their choosing shortly after the buyer’s offer is accepted. Most states’ real estate contracts stipulate that the buyer has 10 days from the date of contract acceptance to complete the inspection and communicate any issues to the seller.

WHEN IS THE REPORT DELIVERED?
The home inspection report is generally delivered to the buyer within 24 hours from the time the inspection was completed.

Home APPRAISAL:

DETERMINES PROPERTY VALUE
This report is required by Academy when a home purchase is being financed. The appraisal is used to determine the fair market value and the general physical condition of the property being purchased.

HOW MUCH DOES IT COST?
$350–$500
Home appraisal costs vary slightly depending on the size of the home and whether the home will be an investment property or a primary residence.

HOW AND WHEN IS IT ORDERED?
Academy typically waits to order the appraisal until after the home inspection is completed (if the buyer decides to do a home inspection). Per government-regulated guidelines, Academy is required to randomly assign an appraiser to an appraisal order.

WHEN IS THE REPORT DELIVERED?
Typically, a home appraisal report is delivered to Academy within 5–7 business days from the time it is ordered.

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Technology continues to impact the housing industry

In today's digital age, interested homebuyers can browse available listings for properties in the area, research current market conditions and learn more about lenders. The Internet connects these buyers with a wealth of resources that assist them through the process of buying a home. 

Technology continues to mold real estate. The housing industry is fueled by buyer demand. With young adults entering the market, more technology is essential. According to Tech Crunch, many companies began catering to their audience by improving connectivity with millennial buyers. Some of these operations include: 

These companies demonstrated that adapting to today's buyers requires not only an understanding of emerging technology, but also the ability to develop their own technologies. As more interested buyers are turning to the Internet to start their search, ensuring this channel is as user-friendly as possible is crucial. 

The NAR's research emphasizes the importance of a hybrid technique. According to Real Estate in the Digital Age, a report published by the National Association of Realtors®, homebuyers use technology to aid their home searches.

"Realtors® constantly strive to find ways to make the home buying and selling process easier for and more accessible to their clients," said NAR President Chris Polychron. "There is nothing more important than helping people find and land their dream home, and since technology helps Realtors® do that, it will continue to be a priority."

However, buyers also crave face-to-face interaction with - and guidance from - real estate professionals. 

"Consumers have the ability to do more home buying research online and be more connected during the home search process than ever before, but research proves they are still seeing the value a Realtor® brings to the transaction, from the initial search to well after the closing," said Polychron. "Realtors® bring great value to buyers from every generation, demographic and location as well as in every financial and familial situation. So while consumers have more technological tools available at their fingertips, Realtors® are now more than ever a part of the home buying and selling equation."

When interested buyers begin their search for a new home and start the application process for a U.S. home mortgage, it's important industry professionals cater to their unique needs. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Millennials and the housing market

Millennials are generally defined as individuals born between 1980 and 1995. The National Association of Realtors indicated these young adults make up 31% of today's homebuyers, so understanding the habits and desires of this demographic is important to industry professionals. 

Realtor.com indicated these young adults will be the primary drivers behind the real estate market in the years to come. 

"People who believe that millennials are disinterested in homeownership are grossly mistaken," said Jonathan Smoke, the NAR's chief economist. "This generation hit the job market during one of the largest recessions of all time, and they've had to work hard to establish credit and save for a down payment. With the older segment just beginning to enjoy living the life that drives homeownership - including marriage and children - now is the most appropriate time for them to consider homeownership. And that's exactly what the latest numbers are showing."

Young buyers enter the real estate market. According to Realtor.com, there are a high number of millennial homebuyers investing in Des Moines, Iowa, houses. Nearly 60% of individuals applying for a U.S. home mortgage in this capital city were between the ages of 25 and 34. 

The Urban Land Institute's survey, "Gen Y and Housing: What They Want and Where They Want It," indicated one of the top-ranking features young adults consider when buying a home is the cost. Other important features included:

Affordable homes with close access to a plethora of restaurants and entertainment attract a higher number of young buyers. Local markets that can offer these perks can expect an influx of millennial prospective homeowners. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Contact me to find a loan, get a rate, or calculate your payment today.

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