Using Assets for Affidavit of Financial Support

[Jude C 24]

Does it hurt one’s chances for K1 approval if the sponsor uses property assets to qualify (ex: real estate)? I understand assets are permitted for use to qualify, but is a salary from employment “better” than using assets? Have you heard of someone being denied because their sponsor used assets?

 

[Mike E 11,739]

COs will exclude assets they think would be a hardship to the sponsor  to liquidate. 
 

So 3 years plus then current year of confirming  W-2 income works best. 

[IWander 589]

1 hour ago, Mike E said:

COs will exclude assets they think would be a hardship to the sponsor  to liquidate. 
 

So 3 years plus then current year of confirming  W-2 income works best. 

3 years?  I have never provided more than one year.

[Redro 4,611]

7 hours ago, Jude C said:

Does it hurt one’s chances for K1 approval if the sponsor uses property assets to qualify (ex: real estate)? I understand assets are permitted for use to qualify, but is a salary from employment “better” than using assets? Have you heard of someone being denied because their sponsor used assets?

 

Is the real estate the primary residence? 

I believe I-134 approval differs depending on consulate. 

For example, London allows self sponsorship and Manila does not always accept a joint sponsor. 

Where will the beneficiary be interviewing?

AFAIK: 1-134 only needs to cover 90 days of living expenses so if income is a concern you should line up a co-sponsor for the I-864. 

 

 

 

Edited February 5, 2022 by Kor2USA

[Mike E 11,739]

7 hours ago, IWander said:

3 years?  I have never provided more than one year.

And I’ve always provided 3 years of tax returns.  Clearing the income requirement, while I was working, has never been a problem. To each their own.  

[IWander 589]

1 minute ago, Mike E said:

And I’ve always provided 3 years of tax returns.  Clearing the income requirement, while I was working, has never been a problem. To each their own.  

Difference between what you did and what is required.  No where does it say you are required to show 3 years.

[Jude C 24]

11 hours ago, Kor2USA said:

Is the real estate the primary residence? 

I believe I-134 approval differs depending on consulate. 

For example, London allows self sponsorship and Manila does not always accept a joint sponsor. 

Where will the beneficiary be interviewing?

AFAIK: 1-134 only needs to cover 90 days of living expenses so if income is a concern you should line up a co-sponsor for the I-864. 

 

 

 

It’s not primary residence. It’s a rental property. They’ll be interviewing at the Guangzhou embassy in China.

 

I’m trying to figure out if I would be risking the visa approval if I stop working.

[Mike E 11,739]

4 hours ago, IWander said:

Difference between what you did and what is required.  No where does it say you are required to show 3 years.

There is necessary and there is sufficient and the two are different.
 

The width of the difference depends entirely on the CO and then the IO (since this is a K-1 thread).  

 

In my observation, CO’s for K-1 cases are sometimes less rigorous than IOs for the I-485 cases.  When it gets to I-485, we sometimes RFEs for a joint sponsor because of the lack of solid income history. 

 

I stand by my assertion that the highest chance of approval of a K-1 includes a package three years of confirming income proof via tax transcripts.  That’s my last word on this thread on that point.  
 

6 minutes ago, Jude C said:

It’s not primary residence. It’s a rental property. They’ll be interviewing at the Guangzhou embassy in China.

 

I’m trying to figure out if I would be risking the visa approval if I stop working.

Real estate, especially outside of highly developed countries, isn’t very liquid.  I don’t know about China but in another economies in Asia, properties sit on the market sometimes for years before there is a sale.  So I would not be surprised if there is a denial.  

[NandV 87]

17 hours ago, IWander said:

Difference between what you did and what is required.  No where does it say you are required to show 3 years.

It really depends on your embassy. In India, they have been asking most people for 3 years

[iwannaplay54 985]

On 2/4/2022 at 5:22 PM, Jude C said:

Does it hurt one’s chances for K1 approval if the sponsor uses property assets to qualify (ex: real estate)? I understand assets are permitted for use to qualify, but is a salary from employment “better” than using assets? Have you heard of someone being denied because their sponsor used assets?

 

I have used highly liquid assets (only) on both an I134 and an I864 but I would have never offered an asset such as a primary home.  It’s worth a try but I’d recommend a backup plan if in fact this is what you are proposing to do.

[Jude C 24]

1 hour ago, iwannaplay54 said:

I have used highly liquid assets (only) on both an I134 and an I864 but I would have never offered an asset such as a primary home.  It’s worth a try but I’d recommend a backup plan if in fact this is what you are proposing to do.

Thank you for sharing your insight. It is not my primary residence, but I guess it's not as liquid as money in a savings account. 

[Jude C 24]

On 2/5/2022 at 9:43 AM, Mike E said:

There is necessary and there is sufficient and the two are different.
 

The width of the difference depends entirely on the CO and then the IO (since this is a K-1 thread).  

 

In my observation, CO’s for K-1 cases are sometimes less rigorous than IOs for the I-485 cases.  When it gets to I-485, we sometimes RFEs for a joint sponsor because of the lack of solid income history. 

 

I stand by my assertion that the highest chance of approval of a K-1 includes a package three years of confirming income proof via tax transcripts.  That’s my last word on this thread on that point.  
 

Real estate, especially outside of highly developed countries, isn’t very liquid.  I don’t know about China but in another economies in Asia, properties sit on the market sometimes for years before there is a sale.  So I would not be surprised if there is a denial.  

Thank you for your response. The property is in the U.S., but I think you're right. Real estate is not as liquid as money, say, in a savings account. 

[iwannaplay54 985]

2 minutes ago, Jude C said:

Thank you for sharing your insight. It is not my primary residence, but I guess it's not as liquid as money in a savings account. 

In that case if it can be converted into a liquid asset within a year it is fair game.  Make sure you have a tax record or recent appraisal to back up the value claimed on the affidavit.

[Jude C 24]

2 minutes ago, iwannaplay54 said:

In that case if it can be converted into a liquid asset within a year it is fair game.  Make sure you have a tax record or recent appraisal to back up the value claimed on the affidavit.

Thank you for the advice! 

[iwannaplay54 985]

1 minute ago, Jude C said:

Thank you for the advice! 

Best of luck 👍