1. A computer implemented method for magnetic resonance imaging, comprising: performing a 3D Fourier Transform acquisition with two phase encode directions, wherein phase code locations are chosen so that a total number of phase encodes is less than a Nyquist rate, and closest distances between phase encode locations takes on a multiplicity of values; receiving readout signals through a multi-channel array of a plurality of receivers; performing an autocalibrating parallel imaging interpolation and generating a noise correlation; using the noise correlation to weight a data consistency term of a compressed sensing iterative reconstruction; creating an image from the autocalibration parallel imaging using the weighted data consistency term; and displaying the image.