That puts construction total costs in the $158k range.Now you list the house for $230k, and say you sell it at full ask, no seller prepaid money.  

Keep in mind too, the taxes are part of the closing process in most loans that you are using and thus have to be prepaid for the following year. 

Broken down ($1870 origination charges, $690 appraisal, $1350 title service, $416 tax, $484 prepaid insurance, $320 initial escrow, $360 home inspection and title insurance).

Cash to close is usually the down payment, points, any other lender fees, prepaid interest and insurance, and your standard closing costs. 

Please also verify the accuracy of this information at the time you are considering these options as guidelines change.price Decorating allowancesRepair allowancesMoving costsNote—a dollar for dollar sales price reduction is also required for - Excess rent credit and gift funds not meeting FHA requirements Contributions exceeding the actual cost of prepaid expenses, discount points and other financing concessions Credit Requirements Required is 600.

Points are pre-paid interest.To start out with, it's better to buy your own home and use conventional funding.

They also typically require payment upfront of additional pre-paid interest, referred to as “finance points.”

Hemanth,I don't lend in your area, and private lenders differ by region, but my web page here: http://www.privatelendingnh.com/node/2 provides you with the answers if you were in NH and were to borrow from me.In all my loans you must buy lender's title insurance at closing and you must bring a prepaid property insurance binder to closing as well.The upfront points may be negotiable, depending on the lender.  

@Ned Carey I had one personally were there were on a loan we had 9k in escrow funds in our loan TAX's and some prepaids..

To my surprise the bank came back with closing cost of $5,100 and Estimated Prepaids of $3,090 (as shown below).