Nick Staker

NMLS# 146802

District Manager

Nick Staker
District Manager

Loan Originator
NMLS# 146802
State Lic: IN # 14894;
10729 Coldwater Road
Suite 200 & 220
Fort Wayne, IN 46845
Direct: (260) 494-1111
Fax: (800) 849-3426
Master's of Business Administration - Indiana University
Bachelor of Science in Business - Indiana University
Certified Public Accountant
nick.staker@academymortgage.com

Overall experience was great. As a first time home buyer, I was very nervous about the process. The Nick Staker team was very thorough in explaining all the details every step of the way. Stephanie Davis
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Nick Staker is an award-winning mortgage loan professional who has been providing clients with superior mortgage services since 2002. As a loan originator, Nick has helped hundreds of clients finance properties of all sizes. He is recognized as a top producing loan officer, having appeared on Academy Mortgage’s Top Producers list four consecutive years (2012-2015). In 2013 he was ranked #9 in the country in purchase units and in 2014 was #20 in the same category. He was recently named in Scotsman Guide as the #1 USDA Loan Originator in the State of Indiana (ranked #18 in the Nation).

Nick works diligently to offer clients the best possible loan products. “Our goal is to ensure that each person obtains a carefully-tailored loan program that fits their short- and long-term financial plans.” Nick strives is to provide services that demonstrate his team is a group of educated, proactive individuals dedicated to finding the most appropriate programs available.

The Staker Team at Academy Mortgage Corporation offers Conventional, FHA, VA, and USDA (no down payment) mortgages. The Staker Team’s office is located in Academy Mortgage Corporation’s Great Lakes Region, enabling Nick’s group to provide processing, underwriting and closing services. They take pride in assuring that loans are handled personally and locally. In addition, they have the flexibility to meet demanding closing dates. The Staker Team’s industry knowledge and competitive rates help ensure customers receive the best possible product and superior service.

ARTICLES

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

VIDEOS

Watch helpful videos to learn more about Academy.

NMLS# 146802

State Lic: IN: 14894;

Corp Lic: IN: 10966;

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BASIC TIPS for GETTING a MORTGAGE

A home purchase can seem like a daunting task, so it’s important to take it step by step and know that help is out there to streamline the process. Sure, you might have been saving money for years, but what else can you do to help fulfill your dream of owning a home? It starts by applying for a mortgage. Mortgages are designed to help individuals and families purchase a house when they otherwise might not have been able to.

Prepare to apply. In order to apply for a mortgage, you will want to do your homework first. This means knowing exactly where you stand financially. Assess your household budget and savings, seeing just how much you can afford to spend on a down payment. From there, you want to request your credit report. This will have a significant impact on what the interest rate will be on your home loan and whether or not you qualify for a purchase at all. Your credit score shows a lender essentially how trustworthy you are. While a poor credit score will hurt your chances of obtaining a low rate, don’t let it completely discourage you. There are ways to purchase a home even with a less-than perfect score and ways to raise your score.

Get pre-qualified. Once you know you want to purchase a home, you will want to consider getting pre-qualified for a mortgage immediately. This can help speed up the process, not to mention help you avoid potential headaches down the road. For example, you might have found the home of your dreams, but getting approved for a mortgage could take some time, something that could cost you an opportunity at purchasing. A pre-qualification will last 90 days, ensuring you are all set when you finally decide to pull the trigger on a purchase.

Finding a home. After you’re pre qualified for a loan, you’ll know how much you can afford. Now you can begin searching for the home of your dreams, without having to worry about whether you’ll actually be able to make a purchase.

Final loan approval. You will receive final approval for a home loan if you have a good credit score and debt-toincome ratio. Keep in mind that approval could depend on certain financial or property conditions that need to be met first.

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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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What You Need for Your Loan Application

Use the following checklist to be sure you have everything you need for your loan application.

o Purchase Contract (for the purchase of your new home)
o Sales Contract (if you are selling your current home)
o Certified copy of the closing statement (if you have sold your home)
o All original paystubs for the last 30 days (showing your name, Social Security number, and year-to-date earnings)
o Original copies of your most recent two years’ W-2s and complete tax returns
o Proof of other income: Tips, Social Security payments, and investment income (if any)
o If you have a rental property: Your current rental agreement and your most recent two years’ tax returns with all schedules
o If you are self-employed or receive a 1099: Your most recent two years’ tax returns with all schedules and a year-to-date profit and loss statement and balance sheet
o If you own 25% or more of your corporation: The corporation’s most recent two years’ corporate tax returns with all schedules and a year-to-date profit and loss statement and balance sheet
o If you are commissioned: Your most recent two years’ tax returns with all schedules and year-to-date employee business expenses
o Information on residence history (for the past two years)
o Information on all outstanding loans and credit cards
o Originals of your last three months’ bank statements for all accounts
o Information on real estate you currently own
o Information about other personal property you own
o Copy of your driver’s license and another form of identification (Social Security card, passport, etc.)
o Payment for appraisals and credit report fees
o If divorced: All divorce papers
including marital termination agreement and final decree (signed by the court)
o Original certificate of eligibility and DD214 (VA loans only) ×