My Credit Situation and Homebuying?

I would like to buy a home within the next year. My credit score is poor (around 555), however ALL my delinquent debts are paid, however i do have several of them (mainly charged off credit cards from college that i neglected). All of these have been PAID.

I now only have a car loan, credit card, and student loans that are all in good standing and NEVER LATE.

Can anyone PLEASE tell me when i should see an increase in my credit score and how high of a score will i need to purchase a home with a relatively low downpayment and what kind of interest rate can i expect???? Will it be possible to get a fixed rate? I really need some advice here. Thanks!

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