can i get a no doc mortgage

yes, from godfather mortgage at 50% interest..... come now, what do you think the rates and closing fees would be for something like that....hard money lenders in my area were offering 12% interest for a 1 year loan interest only, with 2 points and lots of closing costs to go with it....you need 20%-30% down and the note needs to be paid off in 1 year or additional costs kick in.

The Financial Reform Bill HR4173 signed into law by President Obama on 8/1/10 outlaws stated income and no doc loans. Section 1411 reads: ''(4) INCOME VERIFICATION.--A creditor making a residential mortgage loan shall verify mounts of income or assets that such creditor relies on to determine repayment ability, Including expected income or assets, by reviewing the consumer's Internal Revenue Service Form W-2, tax returns, payroll receipts, financial institution records, or other third-party documents that provide reasonably reliable evidence of the consumer's income or assets..." so to answer your question, NO.. they don't exist.. even hard money lenders are required to verify you have the ability to repay, but since the rules are a bit ambiguous, they interpret the rules differently.. but they will ask for bank statements or pay stubs, or taxes.. or a combination of the 3 to verify you can repay the loan.. and as others have said, the terms will be terrible, and expensive.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

There may be a hard money lender out there offering this, but I am not aware of anyone. Traditional lenders must document a borrower's "ability to repay", so no doc loans are a thing of the past.