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Can I get a mortgage if I work for family?

My Wife and I both work for our family business, we have been drawing a salary for 7 months, and have worked for the company for 15 months as volunteer help prior to drawing a salary. We both received w2s from 2013 and have filed our 2013 tax return. I am getting mixed information on qualifying for a conventional loan, and our home will be finished and set to close on May 6th! HELP!!! Also, we have no ownership in the company. by nichols2830291 from Dacula, Georgia. Apr 13th 2014 Reply


Yes. Happy to talk and walk you thri it.Local Atlanta lender. Buckhead Home Loans. Briggs Cline. 404-303-7411.

Apr 13th 2014
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

You'll probably be okay, but the 15 months "volunteer help" could be a small challenge. It all depends on the details. Pick a good, experienced mortgage officer and let them help you through it - but get going NOW! Good luck - I'll be glad to help if you like.

Apr 13th 2014
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Jericho Cherry (Jerichocherry)
#54 ranked lender in Virginia - 1,107 contributions

You should be ok, talk with a local lender.

Apr 14th 2014
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Working for a family business is usually not a problem, however the 15 months volunteer thing could be a problem if you didn't have a income generating job during this time.. Lenders are required to verify your income for the past 2 years.. and if you have changed employment during that time, they look to see that your in the same "Field of employment" with your new job compared to your past job.. If you did a career change, then it's possible this could be your hiccup.. this is a perfect example of why I always advise folks to use a broker rather than the local bank or internet bank.. Brokers have a vast network with multiple lenders, and they seek out the best loan product for your specific scenario.. however with the big bank.. there's one lending program, and if you don't meet their specific guidelines, your denied.. do yourself a favor, and contact a local broker.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Apr 14th 2014
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Mike Silkworth (msilkw_195_870)
#29 ranked lender in Michigan - 531 contributions

As long as you are on regular payroll and don't have ownership, your application will be treat it as normal employment. There will be additional verification to ensure you "really" work there. Good Luck

Apr 14th 2014
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