I-864 Part 7. Use of Assets to Supplement Income

[clearcoated]

We are DCF, and therefore my Chinese income for past 3 years (even though it does just barely qualify in USD at the 125% poverty threshold) won't matter. I understand what's important is showing how I can support my spouse in the USA.

 

My question is what is the golden number to hit for the value of my assets?

 

EXCERPT from I-864 instructions:

 

Part 7. Use of Assets to Supplement Income (Optional) Only complete Part 7. if you need to use the value of assets to meet the income requirements. If your Current Annual Household Income (indicated on Part 6., Item Number 15.) is equal to or more than needed to meet the income requirement as shown by the current Federal Poverty Guidelines (Form I-864P) for your household size (indicated on Part 5., Item Number 8.), you do not need to complete this Part. If your total household income does not meet the requirement, you may submit evidence of the value of your assets, the sponsored immigrant’s assets, and/or assets of a household member that can be used, if necessary, for the support of the intending immigrant(s). The value of assets of all of these persons may be combined in order to meet the necessary requirement.

 

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included. The owner of the asset must include a description of the asset, proof of ownership, and the basis for the owner’s claim of its net cash value.

 

You may include the net value of your home as an asset. The net value of the home is the appraised value of the home, minus the sum of any and all loans secured by a mortgage, trust deed, or other lien on the home. If you wish to include the net value of your home, then you must include documentation demonstrating that you own it, a recent appraisal by a licensed appraiser, and evidence of the amount of any and all loans secured by a mortgage, trust deed, or other lien on the home. You may not include the net value of an automobile unless you show that you have more than one automobile, and at least one automobile is not included as an asset.

 

Item Numbers 1. - 4. Assets. To use your own assets, you must complete Part 7., Item Numbers 1. - 4. and submit corresponding evidence with this affidavit. Supporting evidence must be attached to establish location, ownership, date of acquisition, and value of any real estate holding.

 

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My spouse and I jointly purchased two rental properties in 2014 and 2015. Both generate some rental income. They are townhouses, and 90% paid off in cash already. Still, I'm not sure if the appraised value of our real estate will be high enough? That's why I was wondering what the golden number is to hit for asset value...

 

(Additionally, I don't have employment lined up yet, so I'm unable to show proof of that point. The only proof of future income is from our rental properties, but the net income falls short of the 125% threshold.)

(And, we really don't want to obligate a joint sponsor to sign a 10-year contract for us.)

 

[dnoblett]

Asset = 1/3 income, (So if 125% poverty line for 2 is $20K - $25K, then liquid assets would need to be worth more than $60K - $75K if unemployed) this is because in the worse case you would be expected to sponsor immigrant for at least 3 years which is the earliest immigrant could apply for citizenship, which upon naturalization the I-864 becomes void.

 

As for a joint sponsor this 3 year rule also applies to a joint sponsor, once an immigrant becomes a citizen the joint sponsor's I-864 becomes void. There is no 10 year contract, in the worse case scenerio, if you and/or your spouse do not work and are credited with 40 quarters of work the I-864 remains in force indefinitely.

[clearcoated]

Asset = 1/3 income, (So if 125% poverty line for 2 is $20K - $25K, then liquid assets would need to be worth more than $60K - $75K if unemployed) this is because in the worse case you would be expected to sponsor immigrant for at least 3 years which is the earliest immigrant could apply for citizenship, which upon naturalization the I-864 becomes void.

 

As for a joint sponsor this 3 year rule also applies to a joint sponsor, once an immigrant becomes a citizen the joint sponsor's I-864 becomes void. There is no 10 year contract, in the worse case scenerio, if you and/or your spouse do not work and are credited with 40 quarters of work the I-864 remains in force indefinitely.

 

Thanks. Ok, so this doesn't seem like such a huge hurdle to overcome.

 

EXCERPT from I-864 instructions:

 

Item Number 10. Total Value of Assets. In order to qualify based on the value of your assets, the total value of your assets must equal at least five times the difference between your total household income and the current Federal Poverty Guidelines for your household size, however, if you are a U.S. citizen and you are sponsoring your spouse or minor child, the total value of your assets must only be equal to at least three times the difference. If the intending immigrant is a foreign national orphan who will be adopted in the United States after he or she acquires permanent residence, and who will, as a result, acquire citizenship under section 320 of the INA, the total value of your assets need only equal the difference.

 

Example of How to Use Assets: If you are petitioning for a parent and the poverty line for your household size is $22,062 and your current income is $18,062, the difference between your current income and the poverty line is $4,000. In order for assets to help you qualify, the combination of your assets, plus the assets of any household member who is signing Form I-864A, plus any available assets of the sponsored immigrant, would have to equal five times this difference (5 x $4,000). In this case, you would meet the income requirements if the net value of the assets equaled at least $20,000.

[dnoblett]

Yes and if income upon arrival in the USA is ZERO (No Job), then the asset needs to be valued 60K to 75K (3 x poverty guideline depending on state)

 

If you have a job offer in hand before the visa interview then provide this at interview, or if you are simply in China working for a company which income will continue once returning to the states, then provide this evidence at the interview.

[Randy W]

In your situation, they may give MORE weight to an ongoing career - having enough money in the bank (or tied up in property) to buy a Lamborghini with does NOT indicate a stable career. The Visa Officer is REQUIRED BY LAW (the INA) to look at your situation BEYOND what is on the I-864 in determining whether the intending immigrant might become a public charge in the U.S.

 

Evidence of an active job search and/or career potential would go a long way in this regard.

 

There IS no "golden number" beyond the minimums stated on the I-864. It is left ENTIRELY to the discretion of the Visa Officers.