Sarah is on the mark with her response. Too many people are reaching out to alternative purchase arrangements without having a real grasp of what these programs really involve. We find that generally, people such as yourself inquiring about "lease options" truly don't understand these programs.
In a nutshell two of the major issues are...sellers require a large deposit to protect their interests and they nearly always pay more for the property than the going market value. Additionally, you will need to conform to the specific terms of your agreement which will likely lean toward the seller's best interests.
My advice to you is to invest your time in improving your credit in order to qualify for a standard loan and traditional buying process.
Michael Saunders & Company