Your Home – A Hidden Source Of Financing (NC)—Your home is more than just a place to hang your hat. In addition to being a source of pride and protection, it can be a valuable source of equity. With interest rates still near record lows, now may be a good time to consider a renovation, purchasing a new car or making some investments. The equity in your home may help you secure the necessary funds to achieve your goals One way to access the equity in your home is to refinance your existing mortgage. While this increases the size of your existing mortgage, it may yield a lower interest rate and lower monthly payments than a traditional loan. One caution, however; increasing the size of your mortgage means it will take longer to pay it off.