Did your mortgage broker talk to you about a 203K Rehab loan? These have become pretty common again. Here's a link to HUD's website http://www.hud.gov/offices/hsg/sfh/203k/203kmenu.cfm.
If this is not an option for you, check with a local bank about a construction loan.
Bob & Richelle Ward, ABR, Realtors
Prudential Connecticut Realty