Affidavit of Support (I-864)

[TomD 4]

In the instructions on form I-864 it states that you can use your assets to qualify yourself as a sponsor. It further state "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." Then is goes on to say "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, this, 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."

My question is yearly we get tax assessment on Real Property from our county Tax Assessors office. As part of that assessment they establish the property value and break it down into land and improvement values. Can the current Tax Assessment be considered an appraisal as it establishes a basis of value? This also is a government entity and process performed through out the USA which is used to establish value of real estate. Additionally those assessment are typically less than the actual value of a licensed appraiser?

[Otto 83]

You can use the property tax document as an valuation of the home/property's current market value. It is usually close enough (some might say it's 'too high', other's 'too low'). You could also ask a Realtor to run a market analysis for you (free and s/be obligation-free), this would also serve as a means to show current value.

If you have a mortgage - your most recent statement would show both ownership, and current mortgage amount (needed to get the net-value). If you own it outright, a deed or similar document/object would be needed.

[TomD 4]

You can use the property tax document as an valuation of the home/property's current market value. It is usually close enough (some might say it's 'too high', other's 'too low'). You could also ask a Realtor to run a market analysis for you (free and s/be obligation-free), this would also serve as a means to show current value.

If you have a mortgage - your most recent statement would show both ownership, and current mortgage amount (needed to get the net-value). If you own it outright, a deed or similar document/object would be needed.

In my view Realtors Market Analysis are iffy at best(some just want to get a listing). I though the tax assessment would be more credible in that regard even though it might be a lower value. But with recent Market conditions I could see where they might be high also. I have the Grant Deed as I have no mortgage. THX

[pushbrk 12,883]

In my view Realtors Market Analysis are iffy at best(some just want to get a listing). I though the tax assessment would be more credible in that regard even though it might be a lower value. But with recent Market conditions I could see where they might be high also. I have the Grant Deed as I have no mortgage. THX

Tax assessments are accepted as they are historically low. However, you need to weigh what you read about how to state the value of your home against this part of the I-864 instructions. See italics for emphasis.

How Can I Use Assets to Qualify?

Assets may supplement income if the consular or immigrationofficer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members. You may not include an automobile unless you show that you ownat least one working automobile that you have not included.

As a matter of policy not stated in the instructions, Consular officers tend to disregard equity in the family residence just as they would your only automobile because it is not reasonable to expect the home will be sold to provide support or to repay the government for means tested benefits. I would proceed as if your liquid assets to actually be considered DO NOT include the equity in your current family home. Not saying don't include it on the affidavit as it IS a positive thing. Just saying don't expect them to consider the equity part of any "asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members."

[TomD 4]

Tax assessments are accepted as they are historically low. However, you need to weigh what you read about how to state the value of your home against this part of the I-864 instructions. See italics for emphasis.

How Can I Use Assets to Qualify?

Assets may supplement income if the consular or immigrationofficer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members. You may not include an automobile unless you show that you ownat least one working automobile that you have not included.

As a matter of policy not stated in the instructions, Consular officers tend to disregard equity in the family residence just as they would your only automobile because it is not reasonable to expect the home will be sold to provide support or to repay the government for means tested benefits. I would proceed as if your liquid assets to actually be considered DO NOT include the equity in your current family home. Not saying don't include it on the affidavit as it IS a positive thing. Just saying don't expect them to consider the equity part of any "asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members."

Good advice and Good reasoning and I can understand the though process. Showing the home will not hurt and should help a little. I feel my liquid assets are adequate but then, its not what I think is it..lol I guess we will find out soon enough.

THX again