We have a building project! Our house is going to be located app. 390 ft. from the meter, it is a 200 amp service, and we need to know if 4/0/UF wire is going to do the trick. Also, can this wire be purchased at home depot, Lowe's, etc?

Your power company is the one to ask. This is their territory.

In my are they will NOT let us go that far with secondary (120/240v). We would use primary (high voltage) cable to a transformer closer to the house (250' or less).