No, the unless the BK was a Chapter 13, then the waiting period is 2 years after Discharge. Here are the waiting periods after a Bankruptcy:
1.) NonQM - 1 day
2.) FHA and VA - 2 years
3.) USDA Rural Development Loan - 3 years
4.) Conventional - 4 years
* All Agency programs have an waiting period if you had an extenuating circumstance i.e. major injury, illness, or death in the immediate family.
In summary without waiting any longer it would appear that an FHA 203b would be your best option. The co-borrower is not required to occupy the residence. You may still qualify for a DPA as there are some programs that don't have income limits. Hope this helps!
Best wishes to you.
Mortgage Banker - Since 1988 offering FHA, VA, USDA, Conventional, Jumbo and Portfolio Loan Products. Licensed in AL, AZ, CA, FL, GA, IL, IA, IN, KY, LA, MI, MO, NC, NE, NV, NJ, OH, OK, OR, PA, SC, TN, TX, VA and WI.