Need help with 1st deal

Found a house worth 365,000 bank owned they are willing to take 310,000. which gives me 55,000 equity. We discussed that I would offer full price and the would give me a 55,000 credit at closing so I would not have to come up with any down payment.
However they are a credit union and they are getting out of the mortgage business because they got burned to many times so I need to get financing. I can’t find not even a hard money lender who will do no doc with this equity in it. So I am gonna loose this deal if I cant figure something out quick.
I got the bank to accept my terms and now I can’t find the funding. Where does everyone go for no money down? I would go hard money if I could find a hard money lender who would truely lend on the equity inthe property and not my income, or credit. Is there such a bird out there. Someone please help this newbie finalize her 1st deal.

There is not enough equity in this property for a hard money lender to consider it. Based on the numbers you posted you are getting it at 84.9% of value. Most HML’s max out at 65%. You may find one to go to 70% but they will want you to have something in the deal as well, and it will most likely not be a no doc scenario. As for traditional lenders they will use the lesser of the appraised value or sales price as the property value. This means the 55K credit will not work as a down payment.

 Most lenders' requirements for underwriting a loan are base upon the loan to appraised value or the loan to purchase price, whichever is less.  Loans which have no guidelines with regard to credit or income verification are called "nonconforming" or "subprime."
 Even nonconforming loans usually require at least 5% down, even for owner occupancy.  So you could do this with $15,500.
 Usually the reason why people go looking for no money down loans is because they have no money.  Usually the reason why people look for loans that do not consider their credit is because they have bad credit.  The reason why hard lenders will not consider this deal is because they must also look at risk.
 I feel like I've been asked "where can I find someone with car keys who will truely give me the keys based on the number of pedestrians on the road and not on whether I'm drunk or how many cars that I've wrecked?"