While buying a home when you have bad or below average credit scores may not give you the lowest rates available, it can still be a better alternative than throwing your money away on rent. Here are a few tips to help lower your monthly mortgage payment. * Buy a less expensive home (instead of that 200k home, try to find one in the 150k range) * consider an adjustable rate mortgage instead of a fixed rate mortgage until you get your credit scores back on track * look into a 40 or 50 year mortgage versus a traditional 30 year mortgage * consider the possibility of having a co-signor

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