I’m buying the 11 acres of land that completely surrounds my 2 acres of property with my house on it.

After living in my house for 3 years, the people who own the property around my house finally decided to sell it, and I would have lost my mind if someone else bought it, because my house is by itself up on top of a hill with no neighbors that can see it, but it’s a mile from the interstate and all the restaurants and shopping at the exit in one of the best suburbs in southern West Virginia.

They accepted my offer of 46k. I have a 770 credit score and make plenty of money to pay the loan payments. I was pre-approved for a loan at 8% variable rate 15 year mortgage, but I was also approved for a 9% HELOC.

Update: I would also like to parcel out part of it that I don’t need, which I can’t do if I don’t pay it off first, but I think I can with the HELOC

What are the advantages/disadvantages of a HELOC vs a mortgage?