El Paso owner-operators generally haul cross-border freight and warehouse moves. A lender reads settlements, fuel and expenses over 12 or 24 months of statements, where the program allows.
A look at the local numbers
Payroll filings in El Paso County include 656 establishments in truck transportation. They employ roughly 9,386 people, and the average annual pay is close to $58,189. Solo operators do not appear in payroll data, so the pool of truckers is bigger than it looks. Its employment location quotient of 2.89 compares with 1.0 for the nation as a whole.
The survey also finds approximately 2,678 self-employed residents of the city of El Paso in transportation and warehousing. That is 12.5 percent of the workers in the group and 9.9 percent of the self-employed as a whole.
El Paso snapshot
| Measure | Figure |
|---|---|
| Employer establishments in truck transportation | 656 |
| Jobs at those establishments | 9,386 |
| Average annual pay | $58,189 |
| Self-employed residents in the related group | 2,678 |
| Share of that group who are self-employed | 12.5 percent |
| Statewide share for the same group | 12.2 percent |
Freight across the line
Goods cross the Rio Grande at a few ports of entry, supporting drayage drivers, freight forwarders and warehouse owners. Many drivers carry freight between border yards and distribution centers in the Southwest and Texas.
The local housing picture
Several numbers for the city of El Paso: the median home is valued roughly $184,000, about 35 percent below the Texas median of $284,000; real estate taxes run a median of roughly $3,760 a year for operators with a mortgage; and median household income is approximately $60,000. A mortgage lender reviews the specific property, so these medians are only a setting up point.
Documents specific to cross-border work
Border-crossing work may involve special permits, customs bonds and FAST cards. A mortgage lender reads these as supporting records for the type of work. Some income may be paid by carriers in Mexico, which adds a foreign-source and currency question.
Fuel and wait times
Border waits and delays can affect income per mile. A reviewer sees the deposits, not the waits, so a short description of your routes helps. The expense factor covers fuel and maintenance.
Home base
Drivers often choose Horizon City, Socorro, Canutillo or the Eastside for space. Tell your loan officer where the truck stays, and ask about any local restrictions.
Planning around timing
Roughly 8.9 percent of El Paso workers work from home, which makes record keeping a practical question for many owners. Your operating authority, the date it was issued and your insurance certificate show how long you have been in business. An underwriter may ask for the authority history along with the statements. If you leased onto a carrier before getting your own authority, the lease agreement shows the earlier work.
How El Paso compares
Statewide, 12.2 percent of Texas workers in transportation and warehousing are self-employed, so the El Paso share of 12.5 percent is around that mark. Ranking the 22 measurable Texas areas we cover, El Paso lands 11th. At $58,189, wages are neither high nor low, so operators here tend to show mid-sized deposits against mid-sized expenses.
Getting the details right
Per diem and reimbursements are not income. If a carrier reimburses tolls or lumpers through your account, those deposits are removed from the average. Mark them in your settlement statements to speed the look at.
Common sticking points
In El Paso, the median home is valued about $184,000, and the file for a self-employed buyer is built around that scale. A second truck or a driver you employ changes the story. The underwriter tallies the business's deposits, applies the factor and then considers whether your pay or the business's profit is the right measure. Payroll documents and driver agreements help show how the fleet works.
Employers in the work around El Paso
| Line of business | Establishments | Jobs | Average annual pay |
|---|---|---|---|
| General freight trucking | 526 | 8,109 | $58,555 |
| Specialized freight trucking | 130 | 1,277 | $55,867 |
Census and BLS data power the local figures here; the data sources page lists the tables and limits.
General information only. Programs vary, and a lender must verify your income and ability to repay. This is not a commitment to lend.
Related
- Bank statement loans in El Paso, TX
- Owner-Operator Truckers: national guide
- What you need to prove
- Small Business Owners in El Paso
- New Business Owners in El Paso
- Owner-Operator Truckers in Dallas-Fort Worth, TX
- Owner-Operator Truckers in Houston, TX
Questions about financing in El Paso?
Apply online or call, and we will tell you which documents to pull together first.
Frequently asked questions
Do I need a FAST card to qualify?
It is not an income requirement, but it supports your experience. Tell your loan officer what you hold.
Can I be paid by a carrier in Mexico?
It may be reviewed if the deposits can be traced. Expect extra documentation.
How many truckers are there in El Paso?
Payroll data for El Paso County show about 656 establishments with employees in truck transportation, and Census estimates count approximately 2,678 self-employed residents of the city of El Paso in the related industry group. Operators with no employees appear only in the Census figure.
Does a mortgage lender treat truckers in El Paso differently from anywhere else?
Programs apply the same rules to deposits wherever you live. What changes is the house and the neighborhood. The city of El Paso has a median home value close to $184,000 ($284,000 for Texas), with 61 percent of homes owned and a median year built of 1984.