Bottom line is that you will have to be able to get a loan in a year to be able to buy the house. No loan means you lose the extra money and deposit you put up. They are not good deal, but so many want to believe they are and they just are not. Run away - just rent until you can really buy and then buy.... more
Your first step should be to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any mortgages that you may quailify for. Without knowing this you can not move forward, if you dont quailify now , then you should ask about lease purchase.