Bank statement loans for truck drivers

Is this you?

• You're an owner-operator, leased on or running your own authority, and your tax return shows far less than you actually clear
• Your settlements or freight payments land in the same account every week
• A bank or big-box lender told you that you "don't make enough" after reading your Schedule C
• You've been self-employed about two years (some lenders consider less with a strong file)
• You want to keep taking every legitimate write-off instead of amending returns to qualify

How qualifying works

The lender reviews 12 or 24 months of statements and totals the qualifying deposits. Transfers between your own accounts, loan proceeds, and refunds get backed out. What's left is averaged into a monthly number.

On a business account, lenders apply an expense factor to account for the cost of running the truck. A common default is around 50%, and many lenders will use a lower, more accurate figure if your CPA or tax preparer provides an expense letter or P&L. On a personal account, where your business already paid its bills before you paid yourself, lenders often count most or all of the deposits.

That monthly figure becomes your qualifying income for the debt-to-income (DTI) calculation, the same way a W-2 salary would.

Worked example: owner-operator leased on to a carrier

Average monthly business deposits (24 months)	$22,000
Expense factor applied (typical default)	50%
Monthly qualifying income	$11,000
Annual qualifying income	$132,000
Net income on the same driver's tax return	$58,000

Illustration only. Your lender's deposit review and expense factor decide the real number, and the result is subject to full underwriting.

What you'll typically need

• 12 or 24 months of complete bank statements (all pages)
• Proof you've been in business: business license, MC/DOT authority, lease agreement with your carrier, or a CPA/tax preparer letter
• Your carrier settlements or 1099s, if the lender asks to tie out large deposits
• Photo ID and two months of asset statements showing your down payment and reserves
• An explanation for any large one-time deposit (equipment sale, insurance check, transfer)

Typical guidelines

Every lender sets its own rules. These are common patterns, not promises, and they change. We match your file to the lender whose guidelines fit it best.

• Credit: many programs start around 620, with better pricing as scores climb
• Statements: 12 or 24 months, personal, business, or both
• Time in business: about two years is typical; some lenders accept less
• DTI: some lenders allow up to around 50% with compensating factors
• Reserves: lenders often want a few months of housing costs in the bank after closing
• Property: primary homes, second homes, and investment properties are all possible

Bank Statement Loans: common questions

Non-QM programs are not available in all states and are subject to credit approval, income and asset verification, and appraisal. Guidelines shown are typical illustrations and vary by lender. This is not a commitment to lend. Matador Lending, NMLS #2072896. Equal Housing Opportunity.