Hello Gail, why are you inquiring on a lease option? Do you have credit issues, BK, short sale, foreclosure or deed in lieu? If not you may qualify for zero down VA or CalVet loans. My other half is a Navy veteran and has banks that are not fico score driven for VA loans.
If you had past issues with VA, you may consider FHA financing. You should study RENT vs BUY listings to compare payments and qualifications.
You may consider FHA 3.5% down from a minimum 580 fico score and if you have lower scores you may consider FHA 10% down with scores between 500-579. You may consider 3% down conventional from a minimum 620 fico score.
Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary. We have lenders that go down to 500 fico score for VA as they are not fico score driven loan programs.
You did not mention the number of bedrooms, baths and maximum payment/price you are looking to achieve. If you figure out what cities/zip codes you are considering, minimum number of bedrooms, baths and the maximum payment/price you are looking to afford you can be emailed listings to fit your search criteria.
The purchase in Waldorf start from 75k for 2bd 1ba condo, from 114k for 3bd 1.5ba condo and the single family homes start from 149k for 4bd 2ba home. The rentals start from $1,100 for 1bd 1ba apts and up. You may qualify to buy and pay less than rent.
Lease options want 10-15% down which is non refundable and your rent goes up annually until you qualify. Don't disqualify yourself and get pre-approved and find out your options. Check out the web reference link below which also has VA, FHA links as well...