I-864 supplemental income (Merged threads)

[jons_wifey 22]

When it comes to using real estate/property as supplemental asset

Do I need to show an APPRAISAL for the properties? OR Can I show the county tax assessment record?

 

[Boiler 45,443]

County Tax is not a valuation.

 

These are investment properties? Are they held by you as an individual or under a Corporation?

[PGA 239]

1 hour ago, jons_wifey said:

When it comes to using real estate/property as supplemental asset

Do I need to show an APPRAISAL for the properties? OR Can I show the county tax assessment record?

 

From i-864 instructions:

 

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.

[OldUser 6,604]

Finding a joint sponsor may be the way to go for the path of least resistance. 

[jons_wifey 22]

petitioner and using rental property for supplemental income

 

do i need to fill out I-864, I-864A or I-864EZ

 

I am sponsoring 2 parents (mum and dad).

[Dashinka 24,479]

I864.  As the primary petitioner, and also using assets, the I864 is your only option.

 

Good Luck!

[jons_wifey 22]

ok thanks. was just checking

[powerpuff 6,677]

*** Threads on I-864 merged together ***

 

 

[jons_wifey 22]

2023 joint tax/ joint income -$93,947

2022 joint tax/joint income - $119,268

2021 joint tax/joint income - $115,382

 

I have tax transcripts and W2's

 

selling rental property appraised at $275,000, equity of $100,000 after paying loan balance of $168,000

household size 7 - $59,175

current (self not joint) income $45,760

difference = $13,415 * 5 = $67,075

 

Thoughts?

 

For the property, I have appraisal report, deed and mortgage loan balance.

 

Do I also submit 2023, 2022 and 2021 W2's?

[jons_wifey 22]

I filled and submitted I-864 - still in the early stages of the NVC process - has not been assessed yet by NVC.

I have 2 properties. 1 primary in Oklahoma, 1 rental/investment in TX (currently no tenant occupied - moved out in August), after which I put the house on the market. Has about $100k equity. has been appraised for $275k, remaining balance about $168k.

 

How much of a pain for the I-864 would it be if I didn't end up selling the TX property and we occupied it, rather than live here in OK?

 

Where the form asks where would my parents live, I put down the OK address.

 

But there is also space for them in the TX house.

[Boiler 45,443]

Much easier and more certain to use income.

[jons_wifey 22]

16 minutes ago, Boiler said:

Much easier and more certain to use income.

I don't understand this comment.

[apnzz 228]

On 10/9/2024 at 4:22 AM, jons_wifey said:

I don't understand this comment.

I think (correct me if I am wrong) what Boiler is stating that using assets in this process can be a bit tricky, it requires a lot more effort than it is worth - if the income alone meets the requirements, using assets is essentially just more work/effort, income is more reliable and easier. 

 

With assets, specifically property / real estate you often have to not only provide appraisal proof but supporting docs like mortgage payments etc and many people have shared experiences that this is not worth the effort you have to go to prove said assets. Whereas income is "easy" to prove.  These processes they prefer income over assets such as property afaik.

[powerpuff 6,677]

Another thread on supplemental income/rental property/I-864 merged. Keep ALL further questions regarding this topic in this thread only. Starting new threads when one already exists on the topic is considered spamming and will result in admin action.

 

VJ Moderation 

[jons_wifey 22]

On 10/10/2024 at 5:29 AM, apnzz said:

I think (correct me if I am wrong) what Boiler is stating that using assets in this process can be a bit tricky, it requires a lot more effort than it is worth - if the income alone meets the requirements, using assets is essentially just more work/effort, income is more reliable and easier. 

 

With assets, specifically property / real estate you often have to not only provide appraisal proof but supporting docs like mortgage payments etc and many people have shared experiences that this is not worth the effort you have to go to prove said assets. Whereas income is "easy" to prove.  These processes they prefer income over assets such as property afaik.

right except that in my case, income is not sufficient, as well as having no joint sponsor.

What I do have is real estate equity with an appraisal.