FHA guidelines are the most forgiving. In most cases you need to wait until 2 years after the discharge date to apply for a new mortgage. Below are the guidelines direct from the FHA underwriting guide:
"A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA-insured mortgage if at least two years have elapsed since the date of the discharge of the bankruptcy.
During this time, the borrower must have
Â· re-established good credit, or
Â· chosen not to incur new credit obligations.
An elapsed period of less than two years, but not less than 12 months, may be
acceptable for an FHA-insured mortgage, if the borrower:
Â· can show that the bankruptcy was caused by extenuating circumstances
beyond his/her control, and
Â· has since exhibited a documented ability to manage his/her financial affairs
in a responsible manner.
Note: The lender must document that the borrowerâ€™s current situation
indicates that the events which led to the bankruptcy are not likely to recur."
Normally "extenuating circumstances" would include serious extended illness or death of a wage earner. Divorce or job loss/transfer would typically not count.
Hope this helps!