Yes, assuming you meant chapter 7 that was discharged 1 year ago, you will have to go subprime and the payments on your debts will have to be current and your DTI must be in line. Get ready for some high interest rates.
What State are you in? I know a Mortgage Banker who offers a special loan program for people who have had a Ch. 7 Bankruptcy that has been discharged 12 months. Interest rate is a little higher than a good credit interest rate but MUCH lower than a sub-prime loan. Owner occupied property only, in Texas and Florida. No derog. credit since the bankruptcy, but debts are ok. Call me or email me if you want more info.
Thanks,
Chireen chireen@usermail.com
Toll Free # 1-888-844-1433