Chris Eastman

NMLS# 197104

Branch Manager, Producing

Chris Eastman
Branch Manager, Producing

NMLS# 197104
State Lic: IN# 19523; IL# 031.0026003; WI# 197104;
3701 Algonquin Rd
Rolling Meadows, IL 60008
Mobile: (847) 609-9224
Fax: (630) 206-1088

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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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Being a first time home buyer I was nervous about the process and how it would work for our financial capabilities. Chris did a wonderful job support my family and helping guide and create a solution that fit our needs. I was extremely happy working with Chris, and if we buy another home, I will be definitely would go back to work with Chris Eastman and Academy MortgageJulie Galka

NMLS# 197104

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

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

Illinois Residential Mortgage Licensee;


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 to find a loan, get a rate, or calculate your payment today.


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.




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.