Support of affidavit

[DaveNot 55]

We are wondering due to being on the lower end of the earning scale what papers are required to value your property income? We also wonder what papers will do when it comes to asset evaluations and which papers with with regards to property value are suffice (tax vs real estate agent)? Also, what can be applied to assets to bump up the figure?

Thanks regards...

[Caryh 5,206]

You generally cannot use your primary residence as an asset to make up for lack of income. Cashing out your primary home is usually looked at as creating a hardship. If you had a second property you could, but it will require a formal appraisal like a bank would need before providing a mortgage. Then you'd need to subtract any leans or mortgages you have on the property to find out its asset value.

You may add the cash value of your assets. This includes money in savings accounts, stocks, bonds, and property. To determine the amount of assets required to qualify, subtract your household income from the minimum income requirement (125% of the poverty level for your family size). You must prove the cash value of your assets is worth five times this difference (the amount left over).

A bit more to read that might help you.

http://www.***removed***/affidavit-of-support/using-assets-meet-income-requirements.html

Edited September 18, 2014 by Caryh

[KayDeeCee 4,900]

Lower end of the scale, but you still meet the income requirement for your household size? You can list any assets you have, but if your income meets the requirement, they are not necessary. Prove you current income meets the requirement with a letter from employer and recent pay stubs

When using property, you need an appraisal plus proof of any liens in order to get the net cash value of the home. Value of a car can be used as an asset, as long as it is not your only vehicle. You can provide proof of stocks, bonds and savings too. Like I said though, if you meet the 125% income requirement for your household size, then you just leave the entire assets section of the I-134 blank.

Edited September 18, 2014 by KayDeeCee

[DaveNot 55]

she owns the house out right no liens she has the deed. Should she include a copy of the deed? She has a tax assesment but do they require a bank aprasal? also we have a co sponsor so should we include my fiance's assets still?

[KayDeeCee 4,900]

If you are using a co-sponsor, then no need to provide assets either.

[DaveNot 55]

Thank you for the replies.