Who's Income determines assets?

[sweetcitygirl 0]

Hello, I am using a joint sponsor to meet the income requirments for my husbands visa case. But i dont know if they go by my income or the joint sponsors income to figure out how much the assets have to show? My income is 4,000 and my joint sponsor is 16,000 for last year, which one do i calcute, using the little formula? This question is so important to me.

Thanks

[Harpa Timsah 13,258]

Your joint sponsor must qualify on his or her own, and as it is, your joint sponsor's income is not enough.

[sheeshkabelle 153]

Your joint sponsor must qualify on his or her own, and as it is, your joint sponsor's income is not enough.

If your joint sponsor is using assets they must make up 3x the difference.

For a household of two your joint sponsor has to have $18,912.00 in income and assets for a household of two.

They make $16,000.00; $2,912.00 below the needed amount. Assets would have to total $8,736.00 to make them qualify to be a joint sponsor.

In order to use assets they must be able to converted in to cash with in one year. They also must show proof of the asset and how much cash value it has.

A home would have to have a recent appraisal and show how much less with a mortgage. A car can be used but the person must have at least two vehicles to use one as a asset. Savings/Checking/Bonds/CDs can be used but must have a statement from the banking institution showing the cash value.

You may have to look for a different joint sponsor.

Edited March 24, 2012 by sheeshkabelle

[aaron2020 11,651]

If your joint sponsor is using assets they must make up 3x the difference.

For a household of two your joint sponsor has to have $18,912.00 in income and assets for a household of two.

They make $16,000.00; $2,912.00 below the needed amount. Assets would have to total $8,736.00 to make them qualify to be a joint sponsor.

In order to use assets they must be able to converted in to cash with in one year. They also must show proof of the asset and how much cash value it has.

A home would have to have a recent appraisal and show how much less with a mortgage. A car can be used but the person must have at least two vehicles to use one as a asset. Savings/Checking/Bonds/CDs can be used but must have a statement from the banking institution showing the cash value.

You may have to look for a different joint sponsor.

Read Part 29 of the I-864 instructions. It's 5x the difference, not 3x.

[sheeshkabelle 153]

Read Part 29 of the I-864 instructions. It's 5x the difference, not 3x.

It is three times for sponsoring a spouse of the USC

Five times for anyone other than a spouse or a child.

Read the entire paragraph:

"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 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 an alien orphan who will be adopted in the United States after the alien orphan acquires permanent residence, and who will, as a result, acquire citizenship under section 320 of the Act, the total value of your assets need only equal the poverty amount."

[Harpa Timsah 13,258]

Yes, but the co-sponsor isn't married to the immigrant so it's 5X.

[sheeshkabelle 153]

Yes, but the co-sponsor isn't married to the immigrant so it's 5X.

The co-sponsor to a spouse of a US citizen, same rules apply.

[Penguin_ie 5,993]

You can't mix-an-match; if you want to use your assets, it will only add to your income, not the co-sponsors, but you only need x3. If you are using the co-sponsor's income, his own assets must make up the short fall, and it is x5. Keep in mind they don't like co-sponsors who are barely over the poverty line.