Meeting income requirement for I864 using assets

[Am2 0]

I need help with the I864. So, we found a joint sponsor who has an income of around 16,000. She also receives pension and has a house with no mortgage(paid off)...worth at least 175,000. The required income is 19,387 for 2. She is 3,242 short. So, in order for the assets to count they would have to be worth 5x the difference, which is 16,250. Could we use the house as an asset and make up for the difference? It's more than enough. Please help. I hope someone responds as soon as possible. Thanks (: (oh and I almost forgot she has an IRA of 10,000..not sure if we can use that too) Help? We are just waiting to fill this out and then my fiance can go to his interview.

[KayDeeCee 4,891]

Does your consulate require the I-864? The I-134 is typically used for the K-1, and the I-864 is needed later for AOS.

It is best to find a co-sponsor that meets the income requirement for their own household size plus the foreign fiance(e), but to answer your questions: You said her income is $16k and she gets a pension. How much is the pension? It is income too. All the income should be added together in order to get the current annual income amount. Does adding the pension make her over the requirement? You can lis the IRA and house as assets, but assets need to be liquid or easily converted to cash without hardship within a year. They may not accept the home as an asset because selling the home you live in and becoming homeless is definitely a hardship. You also need to provide an appraisal of the home and documentation showing ownership and any outstanding loans on it in order to get the net value.

If the pension income plus her regular income is enough, then provide most recent tax transcript, letter from employer, recent pay stub(s) and proof of pension income> 1099 for the pension perhaps and bank statements showing the amount deposited each month.

[Hank_ 9,171]

I need help with the I864. So, we found a joint sponsor who has an income of around 16,000. She also receives pension and has a house with no mortgage(paid off)...worth at least 175,000. The required income is 19,387 for 2. She is 3,242 short. So, in order for the assets to count they would have to be worth 5x the difference, which is 16,250. Could we use the house as an asset and make up for the difference? It's more than enough. Please help. I hope someone responds as soon as possible. Thanks (: (oh and I almost forgot she has an IRA of 10,000..not sure if we can use that too) Help? We are just waiting to fill this out and then my fiance can go to his interview.

You need to find out if the embassy accepts co-sponsors or not, some do, some don't... some are "maybe"

You said the potential co-sponsor has income of $16,000 plus has a pension, what is the total of the two incomes?

Yes you could use the assets of the house; an actual paid appraisal would have to be done to show value & a copy of document showing the mortgage is paid off .

[Am2 0]

Yes,they accept them. They told us we need to get a joint sponsor. I am just going to have to check with her again to see exactly how much her income is combined with the pension. I was just worried that she might not be able to use her house as an asset, but they have that as an option on the i864, which is the form they want us to fill out.

[KayDeeCee 4,891]

Yes, find out how much her total income is. The income might be enough on its own without assets.

[stevie b 141]

it's 3x on assets btw

[KayDeeCee 4,891]

it's 3x on assets btw

Not for the joint sponsor. It is only 3 times if you are a USC sponsoring a spouse or minor child.

Edited June 18, 2013 by Jay-Kay

[Am2 0]

So, it's 16,145 with income tax and pension.We are going to use the house as an asset and hopefully that works. The house is definitely worth around 170,000 and it's paid off. She will get an appraiser to appraise it and get a letter that says the mortgage has been paid off. We only need the assets to be around 16, 300 (rounding it). Hopefully that's enough. :/