Is it better to get a bad credit mortgage first or wait until my credit is fixed?

Its up to you. It may take awhile, (sometimes it can last about a year or so) to get your negative credit removed by the credit bureaus. You need to ask yourself if it would be worth it to pay a higher interest rate to get into a home with bad credit, than to continue renting or living in your current condition. The pertinent  question you need to ask yourself is "Will obtaining a sub prime mortgage now increase my standard of living?" Your sub prime home will still appreciate in value as you continue to live in it, and you can always refinance when your credit has been restored again, so in multiple situations it is to your advantage to get into a home now.

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