What to do about my dad...

So i am about to become a mom to a baby girl. I ve had a lot of arguments with my dad due to him being 2 faced. Here is the long story short.
When i was about 12 he started cheating on my mom and wasting our money/loan that they took out to fix the house, on his young girlfriends not to mention he got caught by me in multiple occations in our own house. Our house never got fixed up all the way since half of that was spent on taking out his gf and stuff. Never had time for his own family. Finally my mom divorced him 5 years ago (thank god!). He literally screwed up relations between mom n grandma and walked out saying since he doesnt live there, he doesnt need to help pay the loan they both took on house.
My mom let him have the car(which she still pays for)...and he took so many loans out and thought he doesnt have to pay back so bank took the car away. They wanted to take the house as well, since dad wasnt paying loans but they couldnt in the end because he went behind her back when getting loans, put it on the house through his ex-gf sister and they never got mom's signature but its a mom's house.
Now he is an activist against gay marriage and how marriage should be between man and woman and how family comes first! Lets remind u, he cheated almost 10 years, never tried to work his marriage out and he barely ever talks to his kids. But he is fighting for marriage and family? And thinks that gays should burn in hell. Like wtf!!! 
He lives in other country where N word is  allowed and not concidered racist and calls gays fags and some races perverts. But when i tell him he is racist/homofob/pervert(his gf is younger than his youngest child btw), he says he is none of that because he has one gay friend and one african friend yet he fights against gays and other races and calls them names. Posts the most nastiest stuff on facebook so i demanded him to delete all my in-laws and friends there because i dont want them to think i am anything like him. 
Now here is the question. Is it mean of me to cut all the ties with my dad? I am about to be mom to a little girl and the last thing i want is her to have any of that influence! Little kids pick up things so fast and i want to teach her to be kind and learn to love people because of who they are as a person ...not judge them  by who they love or by what color they are.