manny4life:


Lmao... You live in CA? I was expecting you'd quickly claim you live in CA, and I was right. I am not gonna insult you, but I really want to test your knowledge on Mortgage practices. Is mortgage lending pursuant to federal or state law? About 70% of all U.S. mortgage loans are FHA and are largely underwritten by Fannie Mae or Freddie Mac, while the others are pretty much Conventional. FHA requires a minimum down payment of 3.5% with a minimum of 640 credit score and conventional, and up to 0% down if excellent credit. Of cos, conventional loans are pretty much difficult for the average man to qualify for since you need scores of up to 750 or more. So I ask again, under what loan is a a 20% down payment required? Or are you confusing it with PMI requirement?

manny4life:


Why are you so convinced and looking forward to an IRS visit next year? Everyone is not broke you know, there are many wealthy individuals that purchase their homes CASH... It's seldom not but uncommon so please calm down for Jesus.

BlaqCoffee109:
Nigerians non
resident in the US usually don't do mortgage

MamaOO:

You do realize the down payment for such house will be around $180,000 right?

MrNigeria2018:


So if President Buhari buy a house worth #500,000,000 as a president, you won’t question him considering his take home every month.

So are you saying the whole Europe is stupid Simply cos they question every penny you spend

manny4life:


Whether he has mortgage loan or not is not my business; I'm only responding to the lady who was quick to state that the down payment for such house will be around $180k, and in the same vein, turns around to say that conventional loan does require at least 5% down. If that's the math, a $1 Million house would require a $50k down payment and not the $180k she wrongly alluded to all to discredit him.

Ayodejioak:
How did he get the money? Seriously? is that your question?

Poverty is so bad that it wont only limit your reason but also force you to think everyone is reasoning the same way as you.

Some of you have just one job - chasing NL frontage allllllll the time.

What makes you think others are doing the same. Everyone is busy planning their future. Yours depend on you!!

Ayodejioak:


Do you speak English?

Ayodejioak:


Do you speak English?

Ayodejioak:


Do you speak English?

MrNigeria2018:


No i speak your dialect for you to understand,

ghettowriter:



i will advice you to deactivate that code activation before registering from your forum, it sucks. you could have one more member if not for that code activation ish, believe me, it sucks.

MamaOO:

Is that all you’ve got? Lmfao. Of course I live in CA. Central Valley to be precise. I don’t need to prove to you if I do or not.

Yes, FHA requires a down payment of 3.5%. But they do have a ceiling. I mean, the max they can loan you. Any other purchase above that, you have to come up with the difference.

Conventional does accept 0% down payment. But that’s with excellent credit. 800+. You’re telling me he has that? And let’s assume he has the stellar credit. He also has to have a steady verifiable job that provides you with income that is sufficient enough to pay your mortgage every month. Google Loan to Value calculations. Nope. I am not confusing it with PMI. PMI cancels after you’ve made payments that’s puts you at 20% of the total loan value. For FHA, it’s for the life of that loan.

Let’s say he did FHA. And he got the most FHA will finance for LA county which is 680K, he has to come up with $320K out of pocket. If he did conventional, which we both agree is very hard to qualify for and he put down 5% that puts him at $50000.

But one thing I am very sure of is: LA housing is very hot. Houses sell within hours and you must Times have 5-6 people fighting for the same house. He house goes to people with the highest down payment. And some people have 50% to put down oo. We just bought a house last year, and no. It’s not in LA. We def cannot afford it.

Nnaabros:


Make we hear word. Mr ITK. That's a reasonable question every reasonable person should ask. I've thought about it too for a long time. This dude has no known source of income that could bring all this kinda wealth. No major business or occupation With all his recent popularity. Except some kind of training institute nobody knows if he still runs. It has nothing to do with pevertu mentality. If your child is flashing wealth everywhere without any know source of income, you would ask same questiln

manny4life:


So you and I do agree that conventional loan does accept up to 0% with excellent credit? Anyway, I just wanted you to see your own argument, whether LA is hot or not is not relative to the argument; I wanted you to see that your $180K calculation was somewhat faulty considering that no loan requirement, at least by law, requires a mandatory up to 20% down payment upfront. If we used the minimum of 5%, that's 50k not 180k, which we agree is absolute. Now determining that LA is hot will add to the down payment is only a relative consideration which means, it could be 50k minimum (by law and absolute) or $500,000 (relative consideration). This is my point. Nothing more.

Oh one more thing, for FHA loans you can cancel it with a refinance option simply because you already have up to 22% equity on the property. Don't worry about me looking up LTV's, as a small REIT person, I've done just about every mortgage calculation there is.

maestro2000:



Ahahaha, my oga, no mind my bad belle jare. It's just that the truth is bitter. Why did you think most celeb in the US always go bankrupt and claim chapter 7. Why did you think mark,buffet, Bill and Co live in a modest house and drive modest cars? .it's just that we celebrate impunity in Nigeria. I am pretty sure of the IRS audit next year, because he lived in the US for more than 6 months last year.

MamaOO:

If your point was trying to correct the $180K which btw is 20% thereabout you could have pointed that out or asked me to explain, instead of telling me I’m posting rubbish. Anyways, we agree to disagree. Have a great afternoon.

NwaAmaikpe:



Willie Willie went to the USA on a visitor's visa though the news that made the rounds back then in Achara Layout was that he got a visa lottery.

He luckily got a sponsor and later changed his status to a resident.

Well...
How he got his money?

Uchemba grew up in the showbiz world which is centered on make-belief.
So unless, he won some money overnight on BetNaija, this is what is known in show business as Special effects..

He already knows that this is the only way to gain relevance in Nigeria; a land full of pauperized and frustrated souls ready to worship anyone they consider is living the dream.

He left Nollywood as a nobody who was given money during film-shoots to buy okpa, he was errand boy to Sandra Achums, Pat Attah, Emeka Like, Benita Nzeribe and late Sam Loco,
Dude vowed to reannounce himself with a bang in Nigeria, now he attracts the attention of Jim Iyke and the Okoye brothers; people who once considered him a degenerate.

MORAL
Time does not only change everything, repackaging yourself is key.

piagetskinner:



chai I love this dp of yours...can I come over

irenmwinfo:
Just a few moment ago William uchemba a former nollywood actor whims role was featured as a child was seen posting pictures of his new bought house at the United state now some persons (Instablog) were confused and asked him how and where he got his money to acquire all he has. Check the pictures out.

www.nairaland.com/attachments/4412964_00_jpeg919f3ecb8d32bb46a2bd5a96c07a9098
www.nairaland.com/attachments/6627371_20180130212027_jpeg6da4f44dff18d17cd2082ac90d8954bc
www.nairaland.com/attachments/6758456_cymera20180227195642_jpegbe453b96b82f464490c7db520e3993d0

Abbey2sam:


He's a UN youth ambassador

I think that's where he made most of his money

Xda59:


I beg who be this hlot babe wey dey dis picture?

Xda59:


I beg who be this hot babe wey dey dis picture?

Ayodejioak:


And what audacity do you have to ask anybody such.

Especially if he doesn't owe you a dime or

If you guys aint even related?

Icon79:
Boshit! First of all, the position "UN Ambassador" is a non-paying position. It's a ceremonial job, the best you can get is all expenses paid travels and hotel rooms. Secondly, even if he has a paying job with the UN, I can tell you that he wouldn't be making more than $150k/year. My friend used to work for the UN and he was making only $120k/yr. The UN job is not like naija politicians where they steal you blind.

Again, I repeat my question, how did he make this money? For starters , is it even his house or is he just showing off? And if it's really his house, did he purchase it mortgage free? There are so many questions and loopholes to this story.


O pari

Oluwaiphee:
Shey, we dey our own, him carry him house show every body?

What else do you expect when you put your biznizz out there?

What made him show us his house, is what is making me ask him the source of that money.

Seriously He showed you his business?...
Its called the internet bro! Look it up!