all suggestions and advices will be greatly appreciated
i am a decent person with a decent and stable job. a 1st-time home buyer in nyc. i found a great deal for a 2br coop. i am asked put 10% down this weekend and see a loan officer next week. but i am afraid i won't get a loan approved with a good rate. here is my situation:
single, $49K income, current credit score 600 with 3 collection--just paid off for 2 mojor ones ( with 12 x 30days late) ($1800)and can't find my acc info from coll agent for the small one($102). 2 tax liens ($2000 ) are total mistakes. i requested disput. all above. i was told it takes 20-30days to get resullts and i should expect to improve the score to at least 620 then.
a L/o from chase manhatan refused my application and won't reconsider until i get 620.
the reason i messed up my credit is not i can't pay, just great depression in my earlier life and no management...... :oops: but i learned the lesson and going to start over to have a good plan and a reliable check system to make sure on-time payment.
do you have any lead/suggestion or you could help me to get a loan approved with a decent rate. i am able to pay 20-30% downpayment for this 171.5 K coop (with a 130K loan).
how do i improve my credit score? would any bank likely offer me a normal credit card after i clear up my credit reports?
pls help-- anxously 1st time home buyer