Proof of source of fund through property sale or secured or unsecured loan

 Proof of source of fund through property sale or secured or unsecured loan

 

If the applicant’s fund is from a loan secured by, or a sale of, capital assets such as real estate, then as long as the applicant could provide evidence of the loan or sale transaction and could explain how and when they acquired the valuable assets, she could likely prove her lawful source of income despite deficient income in her tax returns. This is useful for those applicants who own appreciated assets or real estate.

 

If the assets were acquired less than 7 years ago, USCIS usually requires extensive documentations about its acquisition. Applicant is expected to provide sales contracts, deeds and bank statements and other proof if needed. On the other hand, USCIS has relaxed the documentation requirements for assets acquired more than 7 years ago，as long as reasonable explanation for insufficient documentation is provided.

 

It should be noted that if the lender of the fund is not a bank or lending institute, the applicant must also prove the lender’s lawful source of fund. Also, the applicant may be able to use unsecured loans to invest, but that requires more proof of the general financial means of the applicant and might attract more scrutiny. If the lender is applicant’s company, then applicant should provide a proof that her company’s board of directors has approved the loan.

 

In addition, in the case of loan, applicant must be able to prove that she is able to pay it back using lawful income.

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source of fund Loan sale real property asset