Alternative loan programs allow for recent credit and/or income issues in some cases. These types of programs can allow for a recent housing event like a foreclosure, short sale or deed in lieu of foreclosure. The seasoning on a housing event can be as little as 1 day to 1 to 2 years. The program normally requires a minimum down payment of 20% or more. 

A Alternative loan program may also assist a self employed buyer to qualify using the average of  24 months of  deposits on their monthly bank statements in lieu of their tax returns. This program requires a minimum of 20% down payment.