Because you did not pay a cash downpayment that was at least as large as the points, you can't deduct them in 2017. You can only deduct the points spread out over the life of the loan.
Note also that interest and points on a construction loan are only deductible if you complete construction within 2 years and covert the balance of the loan to a mortgage. Otherwise, neither the interest nor points are considered deductible mortgage interest.
