I'm an owner-operator with my own truck. Will banks lend to me?

Yes — through specialist lenders. 2 years BAS + tax returns. Truck depreciation sometimes added back.

I'm a company PAYG driver with lots of overtime. Will lenders count it all?

Depends on lender. Some 80%; others 100% with 12+ months overtime history.

My truck loan is significant. Does that hurt my home loan?

Yes — existing truck loans reduce home loan serviceability. Some lenders treat business loans differently.

How much deposit will I need?

PAYG: 5–20%. Owner-operators: 15–20% typical.

I'm a Sikh Punjabi truck driver. Do you offer Punjabi support?

Yes — Punjabi-language support available for Sydney Sikh trucking community.

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Truck Driver

Truck Driver Home Loan Australia: Real Lending for Owner-Operators and PAYG Drivers

Mortgagefy Broker Team · Published 2026-04-29 · Last reviewed 2026-04-29

Owner-operator truckie with ABN income? Company PAYG truck driver with overtime? Both have lender options — Mortgagefy knows which work best for each situation.

Start Your Free Assessment 0432 634 648

Who this guide is for

Australian truck drivers — owner-operators with their own truck and ABN, or company-employed PAYG drivers — wanting home loans that maximise actual income.

Owner-operator truck drivers with their own rigs and ABN
Company truck drivers earning significant overtime and shift loadings
Long-haul drivers with strong but variable annual income
South Asian and migrant truck drivers (particularly Sikh Punjabi) needing language support

The real challenge

Two main truck driver income types — both have challenges. Owner-operators face self-employed income hurdles (similar to other ABN income — major banks struggle). Company PAYG drivers face overtime/shift loading discounting.

Specialist lenders handle both well. The right lender choice can mean $100K–$200K difference in borrowing capacity.

How Mortgagefy helps

Mortgagefy works with lenders specialising in transport industry income. For owner-operators, we use BAS and tax return income with truck-specific add-backs. For PAYG drivers, we choose lenders that count overtime and shift loadings at high percentages.

Free advice. Honest assessment.

How it works — 4 simple steps

Free truck driver chat

20-minute call about your structure (owner-operator vs PAYG), income and target home.

Compare lender options

We identify which lenders maximise borrowing for your specific structure.

Application package

We compile your tax returns, BAS (if owner-operator), payslips and supporting documents.

Settle your home

Approval through to settlement with ongoing support.

Frequently asked questions

We use offer letters and vesting schedules to value RSUs conservatively. We present current vesting value + projected future vesting as a 3-5 year income average. This gives lenders confidence in your income stability while accounting for market volatility.

Both. We work with W2 employees, 1099 contractors, and consultants. For contractors, we use 2 years of tax returns plus business financials. We have lenders who specialise in contractor income—they understand the variability.

Unvested options have zero value for refinancing. We count only vested equity. If you have a 4-year vest, we use 25% of the grant value (what's vested) plus a conservative projection of future vesting.

If you've been in your new role 6+ months, most lenders will refinance. We'll use your offer letter plus 6 months of pay stubs. If less than 6 months, it's harder but possible with specialist lenders.

Yes, if you have 2+ years of bonus history. We average the past 2 years and present it conservatively. Some bonuses get counted at 50% to be conservative with variable compensation.

ESPP is counted as deferred compensation. If your company matches or you have a discount, we value it as part of total compensation package.

Get a truck driver home loan assessment

Free 20-minute call about your real options — owner-operator or PAYG driver.

Start Your Free Assessment Call 0432 634 648

Get your personalised answer in 2 minutes

Free, no obligation. We'll match you with the right lender for your situation.

Model your scenarios: Use our free home loan calculators to estimate borrowing capacity, repayments, and savings.

Truck Driver Home Loans — What You Need to Know

Truck Drivers in Australia have access to a strong range of home loan options, but the right pathway depends on whether you're employed (PAYG), contracting (ABN), or running your own business. Each scenario maps to different lender appetites, document requirements, and rate brackets.

Income Verification for Truck Drivers

PAYG truck drivers typically need their two most recent payslips and last year's PAYG summary. Self-employed truck drivers providing services through an ABN need 1–2 years of personal and business tax returns plus BAS statements. For contractors with strong day rates, alt-doc lenders accept business bank statements as evidence of trading income.

Borrowing Capacity

Lenders calculate borrowing capacity using your verified income, less commitments (existing debts, dependants, living costs). For high-income truck drivers, professional loan packages can lift LVR to 90% without LMI in select cases. For mid-income truck drivers, the First Home Guarantee allows 5% deposit with no LMI for eligible first-time buyers.

Common Pitfalls

Truck Drivers often miss out by applying directly to a major bank with one income source. A specialist broker spreads applications across 40+ lenders — covering banks, credit unions, second-tier and non-conforming options — increasing approval odds and rate competitiveness.

How Mortgagefy Helps Truck Drivers

Free 20-minute consultation, document checklist tailored to your employment type, lender selection across 40+ panels, ongoing application support through to settlement. No broker fees — lenders pay our commission upon completion.

What Our Clients Say

"Mortgagefy made a complex situation simple. Five lender comparisons in 24 hours, settled in 5 weeks. Genuinely felt they were on my side throughout — explaining options without pressure."

Aisha M.

Bankstown, First Home Buyer

"After two bank declines, Mortgagefy found a specialist lender who actually understood self-employed income. Saved us $640 a month vs our previous rate. Highly recommend for anyone bank-rejected."

Rohan K.

Parramatta, Self-Employed Refinance

"Used Mortgagefy for our investment property purchase. They structured the loan to maximise tax deductions and arranged settlement to coincide with our existing mortgage refinance. Zero stress, professional throughout."

Linda & Tom W.

Marsden Park, Investor