Hello Catcrowbat, there are not any land loans so you would have to have some cash. Are you a Veteran? Are you speaking of a piece of land in mind and a blueprint? Do you have a cheap builder in mind, low cost upgrades, material costs, etc. as 200k is not going to do it.
The new homes being built in Renton financing will require less out of pocket in a purchase of a new home. The new home construction in Renton are starting from 530k for 2,265sf 4bd 2.5ba two story single family homes. How much cash are you willing to invest into the land and build for a lower price build project?
You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice.
Construction loans are 10-20% down. You may consider 3% down conventional from a minimum 620 fico score and minimum 580 fico may consider 3.5% down FHA up to conforming loan limits.