I don't know but it's good to see mortgage experts Deanna Early and Joe Petrowsky give their answers.

Good morning Reid. Bank statement loans are available for self employed individuals, they require no tax returns. As far as I know they are available in every state.

What state are you in?

We got rid of ALL our No Doc products years ago and I don't see them ever coming back ! 

I have not seen any legitimate ones, however there is a need for mortgages for self employeed. 

Not in Florida to my knowledge. Sandy says there are in California.

I have not heard about no doc loans Reid Wyly 

Not that I know of.

For true rental property (for business purposes only) there are lenders offring very LOW Doc loans at up to 75% 

What to search for on Primary res. and 2nd home purchases are the new Stated Income ALT  loan programs.

On Primary Res. and 2nd homes,  proving ATR (Ability To Repay) is the name of the game these days and the big banks are helpless when it comes to being able to fund loans for many Self Employed borrowers who take advantage of allowed tax write off savings or.... for Outside the Box situations.

Stated Income ALT  loan programs are filling the void.  These programs are a lot more lenient and accept alternative income streams and calculations to prove ATR such as using: 

• Assets for Income
• Expected Income
• New Employment (same field)
• 1099 Income
• Commissions and Bonuses
• Business Bank Deposit averages   
• Personal Bank Deposit averages
• Account Receivables
• Contracts in place for future income
• Expected Rent (rent schedule / what comparable homes rent for in the area)
• Self Employed Tax return income calculated much differently, under Alternative Guidelines (i.e. Stated Income ALT)
• New Rental Income  (must have a legit executed lease, with proof of receipt of deposit and 1^st month rent with proof of deposits in landlord’s account)
• Etc.,

I can use 1 yr tax returns or 12 months Bank Statements. If you have any buyers remaining on the side line due to a credit event I have product for that as well. Bruce 415-761-2230

I still receive a lot of emails with ''too good to be true'' products promises.

Try Quicken loans and their rocket package...

Not that I'm aware of.  Joe Petrowsky is a good one for this question.

Joe Petrowsky has provided a good answer for you.

Wow!  I didn't realize anyone was doing these anymore.  Are there any Texas lenders out there that do these type of loans?  If so, what are the interest rates?

parked and reading

Nope, those days are gone.

Reid Wyly - I'll be glad to see what others have shared.....

Yes there are loans for investors that are no doc based on rental income but only at high interest rates and 5/1 ARMs. Not Fannie for sure.

I get emails occasionally from a Florida lender offering private money no doc  loans BUT they require a low LTV and the rate and terms are UGLY!

I attended a lender seminar last week and the investor that buys their loans actually came and spoke. There are some no doc loans available through his company.  I was surprised to hear it.

yes - you just have to have the right lender

Depends on the jurisdiction.

Looks like there may be some around, but they come at a price. I'd talk to a few good lenders

Two issues.

#1. Lenders providing funding for occupant buyers have the Consumer Protection Act that really has teeth.

#2. Local lenders CAN offer portfolio loans (these can not be resold to Fannie) and may require specialized ownership instruments.

Go the the banks with names you have never heard of and find out who their preferred client is and what they have to offer for non-conforming borrowers. 

In CA there are banks with no loan docs. >40% min down. default rate is one of the lowest in west coast. You need to go in person with an account. No phone calls.

Have not heard of any in my area. Check with Joe Petrowsky.

Where?

I know there are but Joe Big Box Bank doesn't have them. Don't you know a mortgage banker?

I have heard of them but I don't know who