Being a first time buyer what are requesits when applying for a loan?

i just bought a lot but now i would like to builded my dream home but before i can get started i need some money to work with which means i need to receive a loan. i would like the loan to be of about 85,000 do i have to put the property as collateral to make it easier and faster and if yes how do i know how much the property is actually worth? will they deduct the money value of the property from the loan