No Doc mortgages are for people who can't document their income, assets, employment history, or all of the above. However, they are not for everybody. This list of the 7 secrets to getting a no doc loan will give you the insider's track.

Secret #1: Almost everyone can get a no doc loan, but most programs are designed for self-employed individuals. However, many lenders offer no doc loans for W-2 wage earners.

Secret #2: Most no doc loans do verify your employment history but not your income. If you are self-employed, the general rule is 2 years employment history, although there are exceptions, and some lenders will allow only one year self-employed.

Secret #3: If you are trying to prove your income and are a self-employed borrower, lenders will look at the bottom line on your tax returns. This is what you netted after all deductions for the prior two years. If your bottom line is enough to support your debt, and coming up with the documentation isn't too much of a hassle, you can qualify for a full documentation loan and be self-employed. If your bottom line is low, is zero, or is negative, you are a candidate for a no doc loan.

Secret #4: On a no doc loan purchase, generally you must have 5% down payment, but the lender won't care where it came from. Many lenders now offer a 100% no doc loan.

Secret #5: There are varying degrees of no doc loans. Limited doc is almost full documentation, but the lender just doesn't verify income. No Income/ No Asset is the other end of the spectrum, where your loan application is basically blank in the income and assets section and the lender doesn't even verify employment history. Rates for limited doc are just a little higher than full doc, but rates for No Income/ No Asset loans can be quite a bit higher.

Secret #6: If you are trying to get a no doc loan on an investment property, you must have at least 10% down payment.

Secret #7: In order to qualify for a no doc loan, you must have at least decent credit, although rates can be substantially higher if you have some trouble spots on your credit. Many lenders won't do a no doc loan unless your credit is excellent.