FHA, VA, and conventional loans for truck drivers

Is this you?

• You're a W-2 company driver with two years in the industry (CDL school can count toward it with many lenders)
• You served in the military and may be eligible for a VA loan
• You're an owner-operator whose tax returns, after lenders add back depreciation, still show solid income
• You're a first-time buyer looking at low down payment options

How qualifying works

Company drivers: lenders use your W-2s and pay stubs. If your pay varies by miles or loads, expect a two-year average. One thing that trips drivers up: per diem reimbursement is generally not counted as qualifying income, because it's a non-taxable expense reimbursement. A driver earning $75,000 with $20,000 of that paid as per diem may only qualify on about $55,000. If you're planning to buy, it's worth understanding this a year or two ahead.

Owner-operators with tax returns: conventional and FHA underwriting starts with your Schedule C or business returns, then adds back certain non-cash deductions like depreciation. That add-back can recover a meaningful chunk of income for drivers who bought a truck recently. If the result qualifies, a traditional loan may be the better deal.

Veterans: VA loans are available to eligible service members, veterans, and some surviving spouses, and can be a strong option for drivers who served. Eligibility is confirmed with a Certificate of Eligibility.

Worked example: company driver with per diem

Total annual pay	$75,000
Paid as non-taxable per diem	$20,000
Taxable W-2 wages lenders typically use	$55,000
Monthly qualifying income	$4,583

Illustration only. How per diem is treated can vary by program and by how your employer pays it. Ask us before you change how you're paid.

What you'll typically need

• Two years of W-2s and 30 days of pay stubs (company drivers)
• Two years of personal and business tax returns (self-employed on traditional programs)
• DD-214 or Certificate of Eligibility (VA)
• Photo ID and asset statements

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.

• FHA: designed for lower credit scores and first-time buyers
• VA: for eligible veterans and service members
• Conventional: often the best pricing for strong credit
• USDA: for eligible rural areas and income limits
• Employment: about two years in the line of work, with school or training often counted

FHA, VA & Conventional: 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.