Truck Driver
Stated Income Mortgages for Owner-Operator Truck Drivers
Owner-operator truck drivers
The short answer
Owner-operator drivers qualify for a stated income mortgage on documented hauling revenue, using settlement statements and business banking, rather than the small net income remaining after fuel, insurance, maintenance and truck financing are deducted.
Why the usual approach undercounts you
- Fuel, repairs, insurance, permits, meals and truck lease or loan payments consume most of gross revenue on paper.
- Capital cost allowance on the truck can push taxable income close to zero.
- Pay comes from carrier settlements rather than employment pay stubs.
What lenders ask for instead
- Carrier settlement statements for the last 6–12 months
- 6–12 months of business bank statements
- Business registration or incorporation documents
- T1 General and Notice of Assessment for the last two years
- Photo ID and driver's abstract where requested
Required documents vary by lender and by file.
How the numbers usually change
A long-haul owner-operator running consistent lanes may show strong gross settlements and a near-zero taxable line after depreciation on the truck. Settlement-based review reflects the real earning capacity of the operation.
Not sure what your business income qualifies for?
Send a few details and we'll show you the number a self-employed lender would actually use.
Common questions
Do I need to own my truck to qualify?
No. Leased and financed trucks are common; the lease or loan payment is factored into the assessment.
I drive for one carrier. Am I self-employed or employed?
If you receive settlements rather than a T4, lenders normally treat you as self-employed, which is exactly what this product is built for.
Other occupations we work with
Ready to see what you qualify for?
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.