Purchasing property and home loan debt questions.

My wife and I are currently 6 years into our first home loan (2.2% int rate) with about 240k remaining on the loan. We like our house but would like to eventually live somewhere more rural and on a larger parcel boarding BLM/forest service.

We have been looking at property throughout the county and there is a 10 acre parcel that fits our long term desires. We have close to 70k cash currently without liquidation of any assets. The parcel that we found is listed at 139k. (Empty parcel, with a well, power is on the street, no Perc/Mantel test) The owner has not received any offers and we are strongly considering options on how we can purchase this property. I’m hesitant to do anything that might alter our interest rate, as it’s already very low.

We have a sizable amount of equity in our home currently (100k roughly) without a new appraisal. We have made significant improvements to the home since purchasing that could increase that equity another 40-70k potentially.

Home equity lines of credit seem like a bad idea, as do VA cash out loans. Personal finance has never been my strong suit. I’ve considered AG loans but they often have huge interest rates. I’m just curious what people here would suggest as I’m 100% out of element here.

I was a frivolous spender before meeting my wife and never had more than 10k to my name. She is excited at the opportunity this property presents us with. I hope I came to the right place.