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these links may be helpful. In KY where I live, there was a FHA loan option that helped us purchase our first home that i learned about through the housing authority website. WE got the lowest rate available even with some past credit problems and we only had to have 3% down which helped. good luck!!
Oh! and I should add that it was a 30 year fixed, not an ARM...dont think you cant get a fixed loan, because you can...and the FHA is not a stressful as it used to be because there are no inspections required like there used to be...
SHould you need any further guidance on first time home buyer programs, take a look at Chicago First Time Home Buyer Programs . Call if you still have questions.