Situation summary:
- late twenties, married with kids, Canada
- first employee at a startup
- been working there four years, well below market for most of it, last bonuses for engineering staff were Christmas 2011
- company recently raised money, but with no secondary, nor was I offered a bonus
I'd like to consider purchasing a house, but it's been impossible to save significantly while also supporting a family on a below-market salary. Now that I'm at market, it would be likely a further ~24 months of saving before we could seriously consider buying.
Of course, I'm sitting on a pile of vested stock options which have just been valued (by the financing round) at $xxx,xxx. But I can't use my stock option plan as collateral for a loan, at least at a regular bank.
So my question is, is there some way to finance a mortgage which would recognize my most significant asset?
Alternatively, are there some simple steps my company could take to enable a regular bank to work with my situation?
Thanks for any thoughts or advice.
