No income documentation, big down payment, options ? (Texas)

[Jean Fonteneau]

Hi,

I live in Dallas and I am looking to buy a property for my primary residence in the $500-600K range. I can't really document my income, but I am willing to put down as much as 50% ($250-300K).
I want to keep a low monthly payment, I don't like to have a lot of debt and I have no better use for this cash right now.
I am not employed, I manage/trade an investment portfolio for a living, so my income has a lot of volatility.
I have about 1.2 million in liquidable assets, zero debt and a 780 credit score.

What are the mortage options I am looking at : rate, type of loan (30 year fixed, ARM, interest only), etc...?
What would be best suited for my situation ?

I have read somewhere that with the market right now, the new guidelines and regulations being implemented this type of loan (No doc, stated income) is just not available anymore or going away as I type. What's the status on that ?

Thanks in advance for sharing your knowledge.